FedEx Cuts 1,000 Jobs in $1 Billion Savings Plan
FedEx Corp. will cut 1,000 jobs under a plan to save $1 billion in costs, Bloomberg reported Friday.
The reductions, which make up less than 1% of the company’s workforce, are for salaried positions and some management jobs, a FedEx spokesman told Bloomberg.
The news followed FedEx’s March 19 report of its first quarterly sales decline in at least a decade, when it said its fiscal third-quarter profit plunged 75%, Bloomberg said.
FedEx, which has about 290,000 workers and contractors, cut 900 workers at its less-than-truckload FedEx Freight unit in February. (Click here for previous coverage.)
FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
