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FedEx Freight Cutting 900 Jobs
FedEx Freight, the less-than-truckload unit of FedEx Corp., will cut 900 jobs because of declining demand and aggressive pricing by competitors, Bloomberg reported Monday.
The cuts, about 2.6% of the LTL unit’s 35,000 employees, are in addition to 540 jobs trimmed at FedEx Freight late last year and 650 at FedEx’s Office division, a company spokeswoman told Bloomberg.
FedEx said in December that it would cut its executives’ and salaried employees’ pay, suspend its matching contributions for employees’ 401(k) retirement plans for a minimum of a year and cut expenses by $200 million this fiscal year and $600 million next year.
FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.