Business, Logistics, For-Hire, Global Freight

FedEx Boosts Profit Forecast, Cites Cost Cuts as Effective

FedEx Corp.’s shares jumped the most in nine months after the courier boosted its profit outlook, signaling efforts to cut costs are helping counter a decline in package volume.

Thomas Black | Bloomberg News
March 17, 2023
Business, For-Hire, Global Freight

FedEx to Cut Management Jobs by More Than 10%

FedEx Corp. is cutting global officer and director jobs by more than 10%, the courier’s latest cost-saving measure as economic concerns and waning e-commerce weigh on demand for package delivery.

Thomas Black | Bloomberg News
February 1, 2023
Business, Logistics, For-Hire

FedEx Implementing Ranking System for Delivery Contractors

FedEx Corp. is rolling out a new system for evaluating its delivery contractors that rank them like Olympic medal winners.

Thomas Black | Bloomberg News
January 31, 2023
Business, Global Freight

Union Pacific Profit Disappoints After Costly Winter Storms

Union Pacific Corp. reported fourth-quarter profit that missed analysts’ estimates as disruptions from winter storms drove up costs.

Thomas Black | Bloomberg News
January 24, 2023
Business, Equipment, Logistics

FedEx to Shrink Sunday Delivery Service to 50% of US

FedEx Corp. plans to scale back even more on Sunday package deliveries as the courier grapples with faltering e-commerce demand.

Thomas Black | Bloomberg News
January 10, 2023
Government, Business, Logistics, Global Freight

Shippers Decry ‘Notoriously Difficult’ Railroads at Hearing

Shippers urged the U.S. railroad regulator to create more competition in the industry during hearings in which Union Pacific Corp. was called to explain a spike in service restrictions.

Thomas Black | Bloomberg News
December 13, 2022
Government, Business, Technology, Logistics, Global Freight

Shipping Prices Fall in Inventory Glut, Upping Broker Deals

U.S. trucking is entering a tumultuous period that will likely reshape the $875 billion industry. Shipping rates that spiked during disruptions caused by the pandemic have plummeted as inventory gluts across the U.S. lowered demand.

Thomas Black | Bloomberg News
November 28, 2022
Business, Logistics

FedEx Delivery Contractors’ Threat of Black Friday Walkout Fizzles

FedEx Corp. defused a threat by its delivery contractors to walk off the job on Black Friday in protest of dwindling profits as a trade group representing disgruntled logistics company owners disbanded.

Thomas Black | Bloomberg News
November 19, 2022
Business, Equipment, Logistics, For-Hire, Global Freight

FedEx Freight Unit Furloughs Workers as Cargo Demand Slows

FedEx Corp.’s freight unit is putting workers on furlough in some U.S. markets, adding to mounting evidence of a cargo slowdown as the company joins other large employers trimming their ranks.

Thomas Black | Bloomberg News
November 14, 2022
Business, Logistics

XPO Logistics Poised to Pursue Acquisitions Again

XPO Logistics Inc.’s CEO is on the hunt for takeover targets again after taking a two-year pause.

Thomas Black | Bloomberg News
July 3, 2017