After Cutting Costs On Aircraft, FedEx Announces Employee Buyout Offer

FedEx Corporation (NYSE:FDX), the world’s second largest package delivery company, made good on its hints earlier this year that substantial cost cuts were on the cards in the face of a global slowdown, which could pressure earnings. The company announced plans to offer voluntary buyouts to staff, in order to implement a restructuring of its U.S. operations. In June the company had cut back on capex plans on new aircraft, while it rid itself of older, fuel-guzzling planes. Fedex Freight, a division of the company, increased shipping rates by 6.9 percent with...