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00:00:02
The busy gift buying season will be here before you know it. And FedEx is so intent that packages land on doorsteps on time that it's ready to pay up to keep workers from retiring before the holidays are through. FedEx is handing out individual bonuses between $40,000 and one hundred and $110,000.
00:00:20
Hoping to convince close to retirement age pilots to stay up in the air through December, according to documents seen by Reuters and sources familiar with the matter. FedEx ground workers may be the most visible but what consumers don't know is pilots are Santa's most valuable, says Reuters correspondent Eric Johnson.
00:00:40
>> What they don't see a enormous global network that FedEx has of planes that connect and link the American economy with other global economies. Manufacturer's supply chains, and it all makes possible that ground network that FedEx has bringing packages to your front door.>> But the world's pilots are getting older and there's not enough younger ones to replace them.
00:01:03
Couple that with rising global demand for delivery by plane and you have a pilot shortage threatening to ground the industry at the most crucial time of the year. FedEx declined to comment on the bonuses. Rival UPS is facing a similar squeeze, but isn't offering bonuses, at least for now.
00:01:21
Industry watchers say either way, all last minute shoppers beware. That addiction to two-day shipping is eventually going to cost you more. Because Santa Claus won't be covering those express shipping costs.
00:01:34