FedEx Forecast Trails Estimates; 1,700 Jobs to Be Cut

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FedEx Forecast Trails Estimates; 1,700 Jobs to Be Cut

Posted on September 16, 2010

September 16, 2010: FedEx Corp., the second-largest U.S. package-shipping company, forecast earnings for the current quarter that fell short of analysts’ estimates, and said it will eliminate 1,700 jobs.

Net income for the three months ending in November will be $1.15 to $1.35 a share, the Memphis, Tennessee-based company said today in a statement. Analysts projected $1.37 a share, the average of 19 forecasts compiled by Bloomberg.

Click here to read more at Business Week.

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