FedEx CEO appointed to President’s Export Council
The council advises the president on government policies and programs that affect U.S. trade performance and works to promote export expansion.
There are 131 article(s) tagged FedEx Corp.:
The council advises the president on government policies and programs that affect U.S. trade performance and works to promote export expansion.
FedEx and the Air Line Pilots Association have been in contract negotiations since May 2021.
Since the first earthquake on Monday, Feb. 6, FedEx has assisted multiple nonprofit and government organizations that are responding directly to the crisis by utilizing its global trade networks.
The cohort was selected among students from eight HBCUs, which are regionally located within a short distance of a FedEx operating or distribution facility.
FedEx confirmed during the company’s December 2022 earnings release that it will try to cut costs by more than $3 billion throughout the fiscal year.
FedEx Express, FedEx Ground and FedEx Home Delivery shipping rates are now at the highest ever.
Mergers and acquisitions, leadership transitions, uncertain economic conditions, global tensions — local publicly traded companies faced numerous challenges in 2022.
Memphis-based public companies FedEx, International Paper, Sylvamo and AutoZone have cautious outlooks for 2023.
The Air Line Pilots Association released a statement accusing FedEx of not doing its due diligence to reach a deal.
Tuesday’s earnings call is expected to focus on how effective the company’s sweeping cost-cutting initiatives announced in September have been so far.
The new service from FedEx will expand on the Memphis-based company’s recent efforts to streamline return shipping.
U.S. Transportation Secretary Pete Buttigieg will be in the city Tuesday, Nov. 29, to tout federal infrastructure funding aimed at supply chain challenges during FedEx’s busiest time of year.
After Memphis-based FedEx shocked investors and said global trends had weakened profit and revenue, the company’s primary competitor still managed to beat financial analysts’ expectations. But how?
FedEx will focus first on parking its older planes, an action that will also defer costly maintenance events, company executives anticipate.
For the first time ever, FedEx has generated its own economic impact study, which looks at the company’s revenue, labor and GDP.
FedEx will raise its shipping rates across most of its segments by as much as 6.9%, the company’s single-largest rate hike in its near 50-year history.
The news follows a particularly poor earnings quarter from the Memphis-based company, which announced several cost-cutting measures in September. FedEx volunteers bundle 20,000 care packages for members of armed forcesRelated story:
The federal assistance comes months after pilots picketed outside the FedEx Express Air Operations Center with signs that read, “When the world shut down, FedEx pilots delivered.”
In 2023, FedEx hopes to generate total cost savings of $2.2 to 2.7 billion, and the Memphis-based company plans increase some of its rates.
The shipping giant announced earlier this month that its earnings for the first quarter of fiscal year 2023 were much lower than the company’s predictions.
While FedEx stockholders presented four proposals of their own during the company’s annual meeting, each was rejected by more than 60% of voted shares.
Shareholders approved the company’s 15 nominees to the FedEx board of directors, including two who were named to the board following an agreement between FedEx and activist investor D. E. Shaw, and compensation for the company’s executive officers.
News from FedEx has left some wondering what the company’s cost-cutting measures could mean in Memphis. FedEx, the city’s largest employer, has around 30,000 employees here. Related story: FedEx closing offices, deferring hiring, reducing flights after weak quarter
Citing adverse “macroeconomic trends,” FedEx CEO Raj Subramaniam announced a variety of cost-cutting initiatives, including reduction in flight frequencies and the closure of over 90 FedEx Office locations.
FedEx Ground has relied on a contractor model since its inception. But what was once a low-cost solution now may be imperiled by the challenges of so-called last-mile delivery.