FedEx Laying Off More Than 10% of Officers, Directors
01 Fevereiro 2023 - 2:16PM
Dow Jones News
By Will Feuer
FedEx Corp. is laying off more than 10% of its officer and
director team as the company cuts costs and aligns its network with
demand trends.
"It is my responsibility to look critically at the business and
determine where we can be stronger by better aligning the size of
our network with customer demand," Chief Executive Raj Subramaniam
said. "While we have already taken many actions to that end, it was
necessary to also look closely at the size of our leadership team
and functions that could be consolidated."
Representatives for FedEx didn't immediately return a request
for comment on how many employees will be affected.
FedEx has faced pressure from activist investor D.E. Shaw Group,
The Wall Street Journal has previously reported.
Shares of FedEx rose 2% to $197.63 in midday trading.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
February 01, 2023 12:01 ET (17:01 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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