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Share FedEx is frantically cutting billions in costs as its pandemic success evaporates

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FedEx is frantically cutting billions in costs as its pandemic success evaporates

Dec 21 2022 by Business Insider

Soft demand for package delivery has set in after a year of operational struggles for FedEx.

AP/Gene J. Puskar

FedEx announced $1 billion in fresh cost cuts Tuesday, bringing the total to $3.7 billion. CEO Raj Subramanian said a soft economy and an "e-commerce reset" were to blame for slow demand. Wall Street was generally pleased by the cuts, but big questions about future demand remain.

FedEx earnings beat expectations Thursday, but the announcement was far from celebratory.

This time last...

Continue Reading FedEx is frantically cutting billions in costs as its pandemic success evaporates

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Share FedEx is frantically cutting billions in costs as its pandemic success evaporates

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FedEx is frantically cutting billions in costs as its pandemic success evaporates

Dec 21 2022 by Business Insider

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