Fedex to cut 'several thousand' from workforce via voluntary system in '13
October 12, 2012, 12:01 am TWN
WASHINGTON -- Fedex, the global delivery company, said Wednesday it was planning to cut "several thousand" people from its workforce via a voluntary departure program beginning early next year.
Chairman Fred Smith said at an investment conference in Memphis, Tennessee, that the cuts would come in the company's Fedex Express global express delivery service and its U.S. unit.
The cuts are part of a plan to boost profits by US$1.7 billion by 2016, mainly through intensified cost reductions.