UPS to cut 20,000 jobs in network reconfiguration
And so it starts. UPS, while announcing a better-than-expected profit, also enthused investors with its ...
© Alexey Novikov
By Alex Lennane
FedEx believes the the cyber attack which hit its subsidiary TNT will cost $300m.
It’s the same amount fellow sufferer Maersk attributed to the NotPetya attack.
The attack hit the company in several ways financially, predominantly through lost revenue, but also via third-party costs for recovery, and a higher tax rate owing to reduced international earnings.
However, chairman Fred Smith said: “I strongly believe FedEx will emerge from the cyberattack as an even stronger, more resourceful company.”
While the intra-Europe business recovered quickly, higher-yielding international shipments were ...
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