FedEx closing stores, offices, delaying hires
FedEx says a drop-off in its global package delivery business has triggered a belt-tightening move.
The company said Thursday it is closing storefronts and corporate offices while putting off new hiring.The company also said it will likely miss Wall Street’s profit target for its fiscal first quarter, and it expects business conditions to further weaken in the current quarter."Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the U.S.," FedEx CEO Raj Subramaniam said in a statement.
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