FedEx to Cut More Than 10% of Officer, Director Jobs

FedEx to lay off 10% of officer and director teams

Following two back-to-back quarters that saw FedEx report earnings well below company expectations, the shipping giant has been enacting sweeping cost-cutting initiatives.

FedEx to cut global officer, director workforce by at least 10%

The announcement is part of a broader reduction of 12,000 jobs since FedEx's 2023 fiscal year began.

FedEx cuts management positions worldwide

According to Reuters, the company has eliminated 12,000 positions since June.

FedEx cutting officer and director team jobs by more than 10%, CEO says

FedEx CEO Raj Subramaniam said FedEx was in the process of informing team members across the globe that their positions were eliminated.

FedEx is laying off 10% of its officers and directors amid cooling demand

The corporate job cuts come as the shipping giant tries to reduce costs amid cooling consumer demand.

FedEx to Cut More Than 10% of Officer, Director Jobs

Job cuts come after rival UPS said its annual revenue could fall for first time in years