Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
DHL Shutting down U.S. Operations...
- Thread starter iGary
- Start date
- Sort by reaction score
rdowns
macrumors Penryn
http://www.marketwatch.com/news/sto...x?guid={33087DB0-161A-4EED-97D4-51711EF1A19C}
PLANTATION, Fla., Nov 10, 2008 (BUSINESS WIRE) -- --International shipping to/from U.S. remains intact
--Will reduce U.S. operating costs by over 80%
--U.S. stays an integral part of DHL's global network
DHL, the world's number one international logistics and express service provider, today announced a repositioning of its U.S. Express business. Beginning January 30, 2009, DHL's U.S. Express business will focus entirely on its international offerings and will discontinue its domestic-only air and ground services. However, the company will retain a strong international presence and capability in the U.S. going forward.
The announcement was made this morning at a press conference held in Bonn, Germany by Deutsche Post World Net, parent company of DHL U.S. Express.
PLANTATION, Fla., Nov 10, 2008 (BUSINESS WIRE) -- --International shipping to/from U.S. remains intact
--Will reduce U.S. operating costs by over 80%
--U.S. stays an integral part of DHL's global network
DHL, the world's number one international logistics and express service provider, today announced a repositioning of its U.S. Express business. Beginning January 30, 2009, DHL's U.S. Express business will focus entirely on its international offerings and will discontinue its domestic-only air and ground services. However, the company will retain a strong international presence and capability in the U.S. going forward.
The announcement was made this morning at a press conference held in Bonn, Germany by Deutsche Post World Net, parent company of DHL U.S. Express.
edesignuk
Moderator emeritus
Apple uses(d) DHL for most if not all of their parts/service delivery. I'm sure FedEx will get that.
Diatribe
macrumors 601
Yeah, it is really unfortunate that this comes in December. They have a $1.2 billion loss this year in U.S. operations, which is just insane. And looking at the economic crisis there are a lot of companies looking at their business right now and deciding what actions to take, even the ones that are not doing so badly. This is far from being over.
Big-TDI-Guy
macrumors 68030
I love the etiquette and wordplay used when cutting jobs. "Repositioning" "Dynamic Shift" and "Efficiency Improvements". 🙄 😡
SwiftLives
macrumors 65816
DHL slashes workforce. Circuit City files for bankruptcy.
And it's not even 9:00 yet.
Gonna be a long week.
And it's not even 9:00 yet.
Gonna be a long week.
Big-TDI-Guy
macrumors 68030
SwiftLives
macrumors 65816
It's probably down to about a 0.401k by now.
On the bright side, now is the time to invest. On the downside, now is the time to invest with what, exactly?
Long week.
DHL is a surprise, but Circuit City's been tanking for a long, long time.
It sucks that these folks are all losing jobs (esp. right before the holidays), but it double-sucks that Circuit City is announcing bankruptcy today, which will undoubtedly be attributed to the recent 'economic crisis', when their problems have been going on for the last few years.
It sucks that these folks are all losing jobs (esp. right before the holidays), but it double-sucks that Circuit City is announcing bankruptcy today, which will undoubtedly be attributed to the recent 'economic crisis', when their problems have been going on for the last few years.
Going into bankruptcy right before the holidays spells the end of Circuit City, in my opinion. They have no cash, their stock is almost worthless and they have a ton of liabilities outstanding.
rdowns
macrumors Penryn
According to what I've read, they had no choice. They owe their creditors huge sums ( HP at $118M, Samsung at $116M, Sony at $60M, Zenith at $42M, Toshiba at $18M) and needed to do something to get inventory into their stores.
I agree. 🙁 What's crazy is that Best Buy has stated that they'd consider buying some of Circuit City's closed locations. Amazing how two companies in the same retail space can be having such opposite experiences.
No choice, I agree, but I think they're done for. Kramer basically said "anyone without cash in the bank going into this holiday season is in trouble."
I think I believe him.
rdowns
macrumors Penryn
They have secured a $1.1 billion loan to provide working capital while reorganizing. Apparently, credit must not be that tight.
Someone has $1.1 billion they wanna write off. 😛
I still think they'll go buh-bye. I hope I am wrong for the sake of all the employees. 🙁
Abstract
macrumors Penryn
Well someone (i.e. your government) has far more money going towards GM, and that isn't exactly really a sound investment either.
OutThere
macrumors 603
To be fair DHL's domestic shipments market share had to be pretty small...yes Apple used them, but very few other companies. It's rare to find DHL as a shipping option buying online, and I certainly would send packages Fedex or UPS before DHL. Hell stuff that comes to my house via DHL is dropped off by a sketchy guy in his beat up chrysler minivan.
All this talk about the credit crunch and you see stuff like that, and Chase (unprompted) bumps my Visa's credit limit by 30%... 😕
All this talk about the credit crunch and you see stuff like that, and Chase (unprompted) bumps my Visa's credit limit by 30%... 😕
bombboy
macrumors regular
Fed-Ex services are just so much better and freight pricing is much better. I'm surprised this hasn't happened sooner when Fed-Ex started picking up LTL companies to beef up their freight backbone. When Fed-Ex pulled that, UPS went and picked up Overnite Express to do the same. DHL was relegating small stuff and document packs more than anything by then.