FedEx out, UPS in for ‘significant air cargo contract’
FedEx’s pilots union said the change will diminish FedEx’s competitive advantage, but the logistics giant said it will improve profitability as soon as the 2025 fiscal year.
Topic: fedex
RSSThere are 401 article(s) tagged fedex:
-
April 2024
-
-
March 2024
-
FedEx earnings not great but better than Q2, a sign cuts are working
FedEx had another rocky quarter in an economy that continues to force downward pressure on its network. This time, the company showed gains against stubborn headwinds by the stint of its own cost-cutting.
-
FedEx pilots ask to be released from mediation, first step in pursuing strike
FedEx says the request is inappropriate and blames changes in union leadership for hindering progress.
-
-
December 2023
-
Worker killed at hub was 86-year-old who loved bustle, co-workers
The longtime employee was killed when she saw an envelope sticking out of a container and hurried to grab it, according to inside sources at FedEx and the attorney representing her family.
-
-
October 2023
-
FedEx suspends operations in Israel
The logistics giant FedEx said all shipments destined to Israel currently in transition will be held “safely” in FedEx facilities.
-
-
September 2023
-
Texas man indicted for allegedly defrauding FedEx of more than $400K
Robert Clark, 58, of Travis County, Texas, is charged with nine counts of mail fraud. Clark’s indictment alleges that he began the scheme around December 2019.
-
Billions in cost-cutting initiatives helped FedEx improve earnings
The company’s net income was $1.08 billion, compared to the $875 million it reported in 2023.
-
This Week in Memphis: Brooks lawsuit in court, Elwood’s opening
This week marks two years since the Collierville Kroger mass shooting. Plus, FedEx Corp. reports first-quarter earnings and U of M researchers reveal breaches in the aquifer.
-
Latest FedEx layoffs affect ‘small percentage of IT and finance positions’
FedEx has been battling market softness in the face of rising inflation.
-
-
August 2023
-
Guest Column: Memphis, FedEx and St. Jude form ‘partnerships of place and purpose’
“On behalf of everyone at ALSAC and St. Jude, I’m grateful to Memphis for once again sharing its soul with the world during the FedEx St. Jude Championship.”
-
FedEx CEO to earn a new base salary of more than $1M
The increase will bring Raj Subramaniam’s base salary, first set in 2022 months after he took leadership of the company, from $1.3 million to $1.45 million.
-
Inked: FedEx World Hub is expanding and so are Dunkin’ and Starbucks
Located at Memphis International Airport, the World Hub will include both office space and “state-of-the-art package sortation infrastructure.”
-
-
July 2023
-
Closure of trucking giant Yellow could impact more than 500 local jobs
Yellow has not formally announced its closure, but a representative of Teamsters Local No. 667, which represents 4,000 local workers, said the company going out of business would affect about 550 of its members.
Related story:
-
One member of FedEx board of directors resigns, another won’t run again
V. James Vena, who only served on FedEx’s board for one year, has resigned. Kimberly A. Jabal will not stand for reelection.
-
Why did deal between FedEx and pilot union collapse?
The news Monday left some wondering if a strike by FedEx pilots was imminent.
Related story:
-
On the road to consolidation, FedEx’s aircraft fleet grows
One of the main reasons FedEx’s fleet has grown despite the company saying it plans to scale back is due to purchase commitments it has made with aircraft manufacturers like Boeing.
-
FedEx pilots reject new contract
FedEx pilots rejected a tentative agreement with the company by a vote of 57% to 43%.
-
Airport Authority approves nearly $50M for new development projects
The bulk of that went to approve a proposal of more than $44 million for the reconstruction of the west half of the Taxiway Alpha at Memphis International Airport.
-
FedEx lays off small team, closes Indianapolis facility
“Decisions of this nature are never made lightly and are the result of much thought and consideration for the needs of our business,” FedEx said in a confirmation email to The Daily Memphian.
-
New FedEx CFO will earn an annual salary of $919,000
In addition to his salary, FedEx announced Monday that Dietrich will receive a signing bonus of $200,000, which will be paid in two installments.
Related story:
FedEx names new CFO and EVP, announces shifts in its finance team
-
FedEx names new CFO and EVP, announces shifts in its finance team
The Memphis-based company announced Monday, July 17, its hiring of John W. Dietrich to the role, which will be vacated by CFO Michael C. Lenz on July 31.
Related story:
-
‘Freight 59’ to offer Memphis-based clubhouse experience at FedEx St. Jude Championship
The new venue is “giving people a taste of what we know is incredible Southern hospitality and culture through the lens of the golf tournament.”
-
FedEx urges customer action as UPS strike appears likely
The move from FedEx follows a breakdown in negotiations between UPS and the Teamsters union; more than 300,000 UPS workers could go on strike at the end of July.
-
-
June 2023
-
FedEx shares down as company reports mixed quarter
Revenue for the fourth quarter was a few billion shy compared to the $24.4 billion the company announced in the same quarter of 2022.
Related story:
FedEx to consolidate its Canadian Ground and Express operations
-
FedEx to consolidate its Canadian Ground and Express operations
The Memphis-based said the transition will take place in phases beginning in April 2024, affecting around 200 contractors.
-