Airborne Inc. announced Friday it plans to lay off 2.5% of its workforce, or 640 employees ranging from managers to line staff, a U.S. economic slump continues to affect the express delivery company's biggest customers.
The job cuts should slash costs by $26 million to $28 million this year. Airborne, of Seattle, is squeezing costs in other areas, from tweaking flight schedules to eliminating interim financial reports to shareholders.
The layoffs included no mechanics, but Airborne fired five second officers and demoted 13 captains to first officers.
"We waited for as long as we responsibly could," says Carl Donaway, president and chief operating officer.
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