DHL cuts 9,500 U.S. jobs

Plantation : FL : USA | Nov 10, 2008 at 8:01 AM PST

By news24hours

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Delivery firm to end U.S.-only operations, will continue shipments to other countries.

NEW YORK (CNNMoney.com) -- Global delivery company DHL announced Monday that it was cutting 9,500 jobs as it discontinues air and ground operations within the United States.

In a press release, DHL said its DHL Express will continue to operate between the United States and other nations.

DHL's 9,500 job cuts are on top of 5,400 job cuts announced earlier this year.

The company also said it was shutting down all ground hubs and reducing its number of stations to 103 from 412.

DHL said it was making the cuts to improve profitability and "to prepare the company for the economic challenges ahead."

DHL Express is owned by the German company Deutsche Post World Net.

The U.S. job market has been bleeding jobs all year. The Labor Department said nearly 1.2 million jobs were lost in the first 10 months of this year,, with 240,000 jobs lost in October alone.

DHL competes with FedEx Corp (FDX, Fortune 500) and UPS Inc. (UPS, Fortune 500)

news24hours is based in New York City, New York, United States of America, and is a Stringer for Allvoices.

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