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Deutsche Job Cut

German logistics giant Deutsche Post AG announced it would slash 9,500 jobs at its DHL US Express business and shut all service centres following the economic downturn. This is in addition to the 5 , 400-odd positions already reduced since the beginning of the year. DHL US Express will also close all ground hubs and reduce the number of stations from 412 to 103, said a company statement. As a result, its annual operating costs are expected to reduce to less than euro 770 million from the present euro 4.2 billion. The US international express network, with a total of 3,000 to 4,000 employees, will be re-tailored to the needs of the group's international express service customers.

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