FedEx Layoff Cuts 1,000 Employees From Payroll
Federal Express (NYSE:FDX) confirmed that they've laid off 1,000 employees in a cost cutting effort.
The company specializes in package delivery and announced the job cuts after stating their third quarter earnings were down by 75% last month.
Half of the job losses were confined to FedEx's headquarters in Memphis, Tennessee.
The job cuts affected all divisions, including their cargo airline and trucking units.
Despite a tougher economy, Federal Express spokesperson, Jess Bunn said there were no more immediate planned job cuts.
Federal Express was selling at $49.87 a share at the end of the trading day on Friday, April 3, 2009.
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