FedEx says 10% of senior US executives take buyout

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By Alex Lennane

07/02/2013

It’s not good news for others in the express or air freight industries when Fedex believes that the current challenges are not temporary. As part of its $1.7bn cost-cutting and revenue-enhancing measures, announced last year, some 10% of its senior US executives have accepted buyouts and will leave during the next 14 months. The majority of the measures – $1.55bn – will come from Fedex Express, and the result will be a workforce made up of some ‘several thousand’ fewer employees.

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