DHL has announced their plan to lose 9,500 employees in the USA. The bulk of these losses are in Ohio and Arizona and will be cut by January 2009. At least the holiday packages should be timely.
I wasn't a big user of DHL, but it seems with people and business' buying less junk they are shipping less junk around. This was already noted in the Baltic Dry Index (BDI), but now we can see it again in more logistical and personal delivery services. Even Oil at 60$ a barrel was not enough for them to hang on to this business. They must have been in quite rough shape and could only exist due to massive misallocations of capital during the heady bubble days.
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