Article posted: 12/4/2012 1:54 PM

FedEx to offer buyouts with up to 2 years pay

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FedEx employees who volunteer for the early retirement program will receive four weeks of pay for every year of service, capped at two full years of base pay.

ASSOCIATED PRESS

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FedEx will be offering some employees up to two years pay to leave the company next year. The voluntary program is part of an effort by the second-biggest package delivery company to cut annual costs by $1.7 billion within three years.