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DHL to axe 600 jobs in US

2/14/2008 11:07:21 AM

DHL, Deutsche Post's express delivery unit, will cut around 600 jobs in the US due to the current economic climate and market demands.

DHL said the job cuts would be achieved through reductions, attrition and the suspension of some existing open positions.

DHL has struggled with plans to expand its package delivery presence in the US market, which is dominated by United Parcel Service and FedEx.

Hans Hickler, chief executive of DHL's US business said the action is one of several measures taken to improve their competitive position in the US market.

Deutsche Post said in late January it would write down around US$878 million on the value of the US business after abandoning a target to break even in the US market in 2009.

Officials at the US unit said last September that slowing US economic growth could dent the company's break-even target.

CargonewsAsia

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