FedEx paints belt-tightening picture in earnings miss
FedEx officials have no plans to dial back modernizations of Memphis and Indianapolis hubs as part of continued cost-cutting initiatives.
Company officials assured analysts Tuesday, Sept. 17, that multi-billion dollar upgrades of the Memphis and Indianapolis FedEx Express hubs are must-do projects. Officials cited staffing needs as one driver of the move to increase automation of the hubs.
The company reported a miss on earnings for the June-August quarter, saying business suffered from continuing global trade tensions and policy questions and added costs of beefing up the U.S. ground network to serve e-commerce
FedEx said it would accelerate retirements of some of its oldest, least efficient aircraft and park other planes after the upcoming peak season.
Read more: https://dailymemphian.com/section/business/article/7516/fedex-paints-belt-tightening-picture-in-earni
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