FedEx Corp on Tuesday vowed to accelerate 'aggressive cost reduction plans' by slashing an additional $1 billion in costs as it races to get ahead of falling demand for its delivery services.
FedEx signage is seen through a fence at a FedEx regional hub at Los Angeles International Airport in Los Angeles, California, U.S., September 16, 2022. REUTERS/Bing Guanon Tuesday vowed to accelerate "aggressive cost reduction plans" by slashing an additional $1 billion in costs as it races to get ahead of falling demand for its delivery services.
The New York City-based investment management firm does not currently own shares in FedEx, but Ghriskey follows the company closely. On Tuesday, FedEx said second-quarter adjusted profit fell to $815 million, or $3.18 per share, from $1.3 billion, or $4.83 per share, a year earlier.
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