Memphis-based shipping company, FedEx, is reportedly gearing to axe a few jobs in the information technology (IT) and finance departments as part of a realignment and streamlining exercise. Those impacted will be given adequate support. The present workforce strength in the greater Memphis area is 30,000.
Earlier, FedEx had already integrated its operations — including ground and air— in a bid to cut costs. The move reportedly saved the company about $4 billion costs.
In February, FedEx had revealed its intention to let go 10 per cent of its global officers and directors as part of cost-cutting measures.
In April this year, the company had consolidated its operating firms. With the new operating structure, it is hoped that there will be more flexibility and efficiency in terms of customer service and creating value for team members and stakeholders.
At the time, it was revealed that the transition would happen in phases with implementation to be completed by June next year. That means, by June 2024, FedEx Express, FedEx Ground, FedEx Services and other FedEx operating companies would be completely integrated into Federal Express Corporation. All of them together will be one firm functioning as a unified air and ground network under brand FedEx.
However, it was announced at that time that FedEx Freight would keep functioning as a stand-alone firm, offering less-than-truckload freight transportation services under Federal Express Corporation.
