Here’s 9,500 more job cuts for the November employment numbers. Delivery service DHL, a division of Deutsche Post World Net, is eliminating its domestic US business. The company will still operate an international parcel service which includes the US, but it had faced heavy losses in the business its cutting. The company had already cut 5400 jobs earlier this year.
CNNMoney: After these job losses, between 3,000 and 4,000 employees will remain at DHL’s U.S. operations, the company said.
The company also said it was shutting down all ground hubs and reducing its number of stations to 103 from 412.
Shares of rivals Fedex (FDX) and UPS (UPS) are enjoying a nice lift today, up about 3.5% and 4.5% respectively.
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