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FedEx is laying off 10% of its officers and directors amid cooling demand - TL;DR CNBC

FedEx is laying off 10% of its officers and directors amid cooling demand

Publishing timestamp: 2023-02-01 16:02:51


Summary

FedEx is cutting 10% of its officers and directors in an effort to reduce costs amid cooling consumer demand. Shares of FedEx were up in midday trading. UPS is also anticipating a "bumpy year" and has raised its shipping prices by 6.9%.


Sentiment: MIXED

Tickers: UPSFDX

Keywords: fedex corpbusinessbusiness newstransportationunited parcel service incjobslayoffs

Source: https://www.cnbc.com/2023/02/01/fedex-lays-off-officers-directors-amid-cooling-demand.html


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