Why FedEx Is Suddenly Laying Off Multiple Top Executives

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FedEx will fire almost 10% of its corporate workforce. As customer demand drops, the courier cuts expenses. [{ "selector": ".carab-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370.848590850217px) scale(0.15)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0) scale(1)", "opacity": "1"} ] }, { "selector": ".ccend-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".qtfzf-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".lbwqs-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".nwrwm-a", "duration": "250ms", "fill": "forwards", "delay": "750ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370px)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }, { "selector": ".bwaiz-a", "duration": "250ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "90%"} ] }]

"Unfortunately, this was required to develop a more efficient, agile firm," CEO Raj Subramaniam wrote to staff. [{ "selector": ".oslus-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370.848590850217px) scale(0.15)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0) scale(1)", "opacity": "1"} ] }, { "selector": ".nxjtp-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".mlgod-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".gkiqz-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".xeuri-a", "duration": "250ms", "fill": "forwards", "delay": "750ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370px)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }, { "selector": ".pxrzk-a", "duration": "250ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "90%"} ] }]

The FedEx CEO indicated that this could be accomplished most effectively by matching the network's size to consumer demand. [{ "selector": ".munsf-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370.848590850217px) scale(0.15)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0) scale(1)", "opacity": "1"} ] }, { "selector": ".gkklm-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".tpalw-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".xaeqj-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".mjqmx-a", "duration": "250ms", "fill": "forwards", "delay": "750ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370px)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }, { "selector": ".lmqgf-a", "duration": "250ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "90%"} ] }]

FedEx struggled in the first half of 2022. The corporation lowered costs and raised pricing to counteract volume decline. [{ "selector": ".nkfrd-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370.848590850217px) scale(0.15)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0) scale(1)", "opacity": "1"} ] }, { "selector": ".owatd-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".rspad-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".bjlie-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".bmuwx-a", "duration": "250ms", "fill": "forwards", "delay": "750ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370px)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }, { "selector": ".lwasw-a", "duration": "250ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "90%"} ] }]

The courier slashed $1 billion by parking flights and closing offices after its second fiscal quarter, when worldwide traffic drops slowed sales and earnings. [{ "selector": ".sglda-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370.848590850217px) scale(0.15)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0) scale(1)", "opacity": "1"} ] }, { "selector": ".nrrcf-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".szolm-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".daatw-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".gpsxm-a", "duration": "250ms", "fill": "forwards", "delay": "750ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370px)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }, { "selector": ".dtzpe-a", "duration": "250ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "90%"} ] }]

The FedEx CEO announced a bold 2023 cost-cutting strategy during its second-quarter earnings conference. [{ "selector": ".kdjlf-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370.848590850217px) scale(0.15)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0) scale(1)", "opacity": "1"} ] }, { "selector": ".fkera-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".bzrfx-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".migui-a", "duration": "250ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": "1"}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": "1"} ] }, { "selector": ".tokzs-a", "duration": "250ms", "fill": "forwards", "delay": "750ms", "keyframes": [ {"offset": 0, "transform": "translateX(-370px)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }, { "selector": ".wttkf-a", "duration": "250ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "90%"} ] }]

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Why FedEx Is Suddenly Laying Off Multiple Top Executives

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