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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
09/27/201614:59:25Statement of Changes in Beneficial Ownership (4)
09/27/201614:58:01Statement of Changes in Beneficial Ownership (4)
09/27/201614:56:09Statement of Changes in Beneficial Ownership (4)
09/27/201614:54:49Statement of Changes in Beneficial Ownership (4)
09/27/201614:52:36Statement of Changes in Beneficial Ownership (4)
09/27/201614:48:48Statement of Changes in Beneficial Ownership (4)
09/27/201614:46:51Statement of Changes in Beneficial Ownership (4)
09/27/201614:44:32Statement of Changes in Beneficial Ownership (4)
09/27/201614:39:43Statement of Changes in Beneficial Ownership (4)
09/27/201614:35:31Statement of Changes in Beneficial Ownership (4)
09/27/201614:30:37Statement of Changes in Beneficial Ownership (4)
09/27/201603:03:00FedEx Taps Air Cargo Executive as Its Next President -- WSJ
09/26/201617:11:58Current Report Filing (8-k)
09/26/201615:09:00FedEx to Promote Air Cargo Chief David Bronczek to President...
09/26/201613:00:00FedEx Appoints Chief Operating Officer
09/26/201612:55:00FedEx Appoints Chief Operating Officer
09/26/201609:15:00T. Michael Glenn to Retire as FedEx Corp. Executive Vice President...
09/23/201617:40:00UPS Uses Drone to Deliver Package to Boston-Area Island
09/22/201617:15:33Notice of Exempt Solicitation. Definitive Material. (px14a6g)
09/22/201607:32:00Today's Top Supply Chain and Logistics News From WSJ

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