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TNT Takeover By UPS Could Cost Up To 20,000 Jobs - Report

AMSTERDAM -(Dow Jones)- The takeover of Dutch package shipper TNT Express NV (TNTE.AE) by U.S.-based United Parcel Service Inc. (UPS) could cost up to 20,000 jobs, Dutch daily Het Financieele Dagblad reported in an interview with TNT Chief Executive Marie-Christine Lombard. On Monday, UPS, the world's largest international package shipper by revenue ahead of FedEx Corp. (FDX), said it has agreed to buy smaller rival TNT Express in an all-cash deal valuing the Dutch package shipper at EUR5.16 billion ($6.80 billion). According to the newspaper, Lombard said that while there are few concrete agreements about labor aspects, the loss of up to 20,000 jobs is possible. She added that part of the agreement is that potential lay-offs would be evenly spread between TNT and UPS. TNT has a total of 77,000 employees. TNT wasn't immediately available to comment. -By Amsterdam Bureau, Dow Jones Newswires; amsterdam@dowjones.com

Stock News for Fedex (FDX)
DateTimeHeadline
12/17/201416:13:27FedEx Says Port Delays Disrupted Shipping Patterns -- 3rd Update
12/17/201414:19:13FedEx Profit Rises Less Than Expected on Plane Costs -- 2nd Update
12/17/201409:48:36U.S. Hot Stocks: Hot Stocks to Watch
12/17/201408:43:08FedEx Profit Rises Less Than Expected on Plane Costs -- Update
12/17/201408:30:46Correction to FedEx Earnings Story
12/17/201408:22:23FedEx Profit Rises Less Than Expected on Aircraft Maintenance...
12/16/201417:27:08FedEx Acquires Bongo International
12/16/201412:40:11Good Weather, Cheap Fuel Seen Helping FedEx -- Earnings Preview
12/15/201418:54:37FedEx to Buy Logistics Company Genco -- Update
12/15/201418:00:09FedEx to Buy Logistics Company Genco
12/15/201413:04:12MARKET SNAPSHOT: Crashing Crude May Blow A $1.6 Trillion Hole...
12/10/201411:06:12New Leak Shows Scope of Luxembourg Corporate-Tax Deals -- 5th...
12/10/201406:16:27New Leak Shows Scope of Luxembourg Corporate-Tax Deals -- 2nd...
12/10/201405:49:20New Leak Shows Scope of Luxembourg Corporate-Tax Deals -- Update
12/09/201421:46:14New Leak Shows Scope of Luxembourg Corporate-Tax Deals
10/31/201407:57:27Misguided Ebola Fear May Boost FedEx, UPS Shares -- Barron's
10/23/201412:33:12UPS Earnings Poised to Rise on Lower Fuel Prices--Earnings Preview
10/22/201410:10:10FedEx Forecasts Jump in Holiday Deliveries
10/22/201409:53:51FedEx Forecasts Jump in Holiday Deliveries -- Corporate Intelligence
09/17/201419:58:21MARKET SNAPSHOT: U.S. Stocks Gain; Dow Closes At Record High

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