Airborne to Trim 640 From Work Force
Bloomberg News
Airborne Inc., owner of air-freight company Airborne Express, said it plans to eliminate 640 jobs, or 2.5% of its work force, as its customers’ shipping needs shrink along with the U.S. economy’s slowing expansion.
The company is trimming about 2.5% of the work force to save as much as $28 million a year. Almost all levels of staff will be affected, the company said. Airborne plans a second-quarter charge of as much as $3.6 million to cover the move.
Shares of Seattle-based Airborne rose 11 cents to close at $11 on the NYSE.
