More job and pay cuts at FedEx as 3Q profit sinks

cheryl

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More job and pay cuts at FedEx as 3Q profit sinks - Yahoo

FedEx Corp. said Thursday it plans to cut more jobs and trim wages again, as the company reported its fiscal third-quarter profit tumbled 75 percent on severe weakness in the global economy.

The Memphis, Tenn.-based company, often seen as a bellwether for the U.S. economy, said it earned $97 million, or 31 cents per share, compared with $393 million, or $1.26 a year earlier.

Revenue fell 14 percent to $8.14 billion, from $9.44 billion.
 
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