• ITVI.USA
    15,285.540
    -94.080
    -0.6%
  • OTLT.USA
    2.776
    -0.010
    -0.4%
  • OTRI.USA
    21.450
    -0.050
    -0.2%
  • OTVI.USA
    15,256.620
    -93.130
    -0.6%
  • TSTOPVRPM.ATLPHL
    3.300
    -0.240
    -6.8%
  • TSTOPVRPM.CHIATL
    2.950
    -0.020
    -0.7%
  • TSTOPVRPM.DALLAX
    1.440
    0.000
    0%
  • TSTOPVRPM.LAXDAL
    3.310
    0.060
    1.8%
  • TSTOPVRPM.PHLCHI
    2.150
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    3.950
    -0.100
    -2.5%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,285.540
    -94.080
    -0.6%
  • OTLT.USA
    2.776
    -0.010
    -0.4%
  • OTRI.USA
    21.450
    -0.050
    -0.2%
  • OTVI.USA
    15,256.620
    -93.130
    -0.6%
  • TSTOPVRPM.ATLPHL
    3.300
    -0.240
    -6.8%
  • TSTOPVRPM.CHIATL
    2.950
    -0.020
    -0.7%
  • TSTOPVRPM.DALLAX
    1.440
    0.000
    0%
  • TSTOPVRPM.LAXDAL
    3.310
    0.060
    1.8%
  • TSTOPVRPM.PHLCHI
    2.150
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    3.950
    -0.100
    -2.5%
  • WAIT.USA
    126.000
    1.000
    0.8%
American ShipperShippingWarehouse

GENCO’s warehouse closure to cost around 160 jobs

The third-party logistics company is closing a distribution center in southeast Memphis, which will result in the largest lay off announced by any company in the Memphis metro area so far this year.

   FedEx’s third-party logistics unit GENCO filed an impeding facility closure June 29 with the Tennessee Department of Labor and Workforce Development, according to the Memphis Commercial Appeal.
   “The lone customer that GENCO supported in the operation at the Quality Drive facility in Memphis has made the determination that it no longer needs the services that GENCO provides,” FedEx spokeswoman Cassandra Lirio said in an e-mailed statement to the Memphis Commercial Appeal. “This change will take effect on Aug. 31, 2016 and will impact approximately 160 positions. All affected GENCO employees will be provided a severance package and career counseling support.”
   This is the largest lay off announced by any company in the Memphis metro area so far this year.
   GENCO operates as a division of FedEx’s domestic parcel delivery service FedEx Ground and specializes in processing returned items, along with handling shipments and returns of pharmaceuticals and other products. FedEx completed the $1.4 billion acquisition of GENCO in January 2015.

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