Traffic World: FedEx Hits Reverse

January 2, 2008: For the first time in its 35-year history, FedEx is getting smaller.

From its signature air express network to the trucks in its far-flung domestic business, FedEx is starting 2009 by grounding aircraft, parking other equipment, cutting capital spending and even cutting executive pay to get the company's scale in line with a declining shipping market.

The cost reductions add up to about $1 billion in FedEx's current fiscal year, which ends May 31, 2009, and at least another $600 million in the following year, cutbacks that appear to be based on equal parts uncertainty and pessimism about the direction of expedited shipping.

Read the full article in Traffic World.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Proposed “Butch Lewis Act” Introduced

The Butch Lewis Act to protect earned pensions was introduced at a press conference today, with the entire Democratic caucus in Congress lined up in support. Now the challenge is to continue the grassroots mobilization and lobbying effort to build bipartisan support for pension protection.

Butch Lewis

The pension protection bill is named in honor of Butch Lewis, who died in December 2015, and was an important leader in the pension protection movement. His widow, Rita Lewis, has carried on the fight and was a featured speaker at the Washington DC press conference.

View More News Posts