My sources advise that they are seeing freight forwarding off about 1/3 rd of what it was a year ago. We are like starving cannibals waiting for the would be cannibal next to us to go down before we do. Our business lives to close another day.
Citing economic conditions, the publishers said the downsizing will involve voluntary buyouts and the creation of a copy desk and ad production center that will serve all eight newspapers from a single location.
The re-engineering plan, expected to reduce the company’s cost base by $30 million to $40 million annually, calls for a number of generally smaller locations to be consolidated into larger nearby facilities. As a result, more than 75 percent of affected employees at closing locations will have the opportunity to follow work to a new operating location. Affected employees will also have the opportunity to consider a transfer to any other Con-way Freight location where a position is available. If an employee moves to a facility that is more than 50 miles from their current location, the company will pay relocation expenses.
We are wondering if the "...will pay relocation expenses..." includes buying out their mortgage, without which few will be able to re-locate.
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