Sunday, January 25, 2009

DHL Job Cuts Ruin Wilmington, Ohio

DHL, Wilmington, Ohio's largest employer, shut down it's domestic operations affecting thousands of jobs in this small town. This reminds me of the Michael Moore movie 'Roger and Me' when GM shut down plants in Flint in the 80s. This shows the evil side of free markets and it's even worse when big layoffs are concentrated in one area. More on the story at 60 Minutes and fundmymutualfund.com. Here's a quote from the original DHL press release.

"In order to meet its financial goals, DHL U.S. Express will close its U.S. ground hubs, and reduce the number of stations from 412 to 103. This will result in an additional reduction of 9,500 U.S. jobs at DHL Express on top of the approximately 5,400 positions already reduced since January. The company will retain 3,000 to 4,000 U.S. Express employees, tailored to the needs of international express customers. These measures will allow DHL's U.S. Express business to reduce its operating costs from $5.4 billion to under $1 billion, a decrease of over 80%. DHL"

60 Minutes Video


VOA Report, November 17, 2008


Here are more stories on the issue. NPR, NYT, CNN

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