DHL laying off thousands in U.S.
A DHL van
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Steve Chiotakis: The German parent company of express mailer DHL could be letting go thousands of workers in the United States. The Associated Press reports tens of thousands could be affected. From Berlin, Kyle James reports.
Kyle James: The numbers are all over the place, but German media reports are saying anywhere from 12,000 to nearly 20,000 jobs could be cut in the United States. This would likely affect drivers, shipping clerks and warehouse workers.
DHL is a unit of the German logistics giant Deutsche Post. The company has already announced it expects to lose $1.6 billion at its U.S. express delivery business by the end of this year. It blames intense competition, high fuel prices and shrinking investments due to the global economic crisis.
Deutsche Post says it is not leaving the U.S. all together. Its state-side logistics unit employs about 25,000, and some staff at DHL are expected to stay.
In Berlin, I'm Kyle James for Marketplace.