FedEx to lay off ‘small percentage’ of employees
MEMPHIS, Tenn. — Memphis-based FedEx announced Thursday that it would reduce positions in its IT and Finance departments.
FedEx did not disclose the exact number of layoffs or the locations of the positions, but said it was a “small percentage of IT and Finance positions.” The company employs about 30,000 in the greater Memphis area.
FedEx announces changes in effort to cut costs
This comes after the Memphis-based company decided to combine almost all of its ground, air, and other operations to cut $4 billion in costs.
President Richard Smith announced FedEx Express, FedEx Ground, FedEx Services, and other FedEx operating companies will be rolled into a single entity by June.
In a statement, FedEx said, “Decisions of this nature are never made lightly and are the result of much thought and consideration for the needs of our business,” they said.
FDX stock prices rose slightly on Thursday.
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The business is working with those affected to ensure they have the support they need during the transition.
In February, FedEx announced it was cutting 10 percent of its global officers and directors as the shipping giant tries to reduce costs.
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