FedEx is Global officer and director job losses of more than 10% the courier’s latest cost-saving measure as Economic concerns and the waning of ecommerce impact demand. package delivery.

Some functions and teams will be consolidated by the company in Additional to the Participation in a reduction of headcount of A determination to achieve your goals. “more efficient, agile organization,” Raj Subramaniam was the Chief Executive Officer. in a memo to employees. These changes will be made in accordance with the original directive. the Size of the He stated that customers demand requires a network. 

“This process is critical to ensure we remain competitive in a rapidly changing environment, and it requires some difficult decisions,” Subramaniam: in the memo.

Get the latest cuts FedEx’s total employee reductions to 12,000 since June, a spokeswoman said.

Shares rose by 2.5% to 12:18 p.m. in New York. 

Since the takeover as Fred Smith, founder of CEO in Subramamian revealed $3.7 Billion in June in This fiscal year, cost reductions in Response to rapid decline in parcel demand. These are the steps worker furloughsReduced cargo flight costs parking Some planes.

Slump in Parcels is Sectorwide, United Parcel Service Inc. reports on Jan. 31 US volume declines and projects declining sales in 2023. The market is threatening Couriers in Which consumers are returning to shopping in stores, inflation is Companies are shipping fewer goods using air freight because they feel the impact on their purchasing power. now that Shipping rates for maritime transport have dropped dramatically the The supply chain delays have been rectified.

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