FedEx cuts 10% of management jobs

FedEx is a no-layoffs company. Buyouts yes. Layoffs no. That's what I've always heard. Not so today. FedEx is laying off more than 10% of directors and officers. From outside the company, it's not surprising. Layoffs are an everyday occurrence right now, and they're starting to leak out of the tech world into other corners of the economy. And FedEx has't been quiet about its laser-focus on cutting costs. But because of the culture of loyalty at FedEx, I'd imagine it's still pretty shocking for folks affected. A spokesperson for the company told me "headcount" is down by 12,000 since June through multiple efforts, including attrition. Today is the only bulk action we know of so far. My story on the layoffs for Insider Business is below and my DMs are open if anyone wants to chat. Are you surprised by the news today? If so, what surprises you? Let me know below or message me. #layoffs #fdx #fedex #economy

Breaking - FedEx is joining the layoff list, cutting more than 10% of its management. Attributing need for cost control to expected soft parcel volume. A sign of uncertainty ahead for FedEx - and a beacon of light for shippers planning to renegotiate this year. https://lnkd.in/gCSXsraY

FedEx is a no-layoffs company. Buyouts yes. Layoffs no. That's what I've always heard. Not so today. FedEx is laying off more than 10% of directors and officers. From outside the company, it's not surprising. Layoffs are an everyday occurrence right now, and they're starting to leak out of the tech world into other corners of the economy. And FedEx has't been quiet about its laser-focus on cutting costs. But because of the culture of loyalty at FedEx, I'd imagine it's still pretty shocking for folks affected. A spokesperson for the company told me "headcount" is down by 12,000 since June through multiple efforts, including attrition. Today is the only bulk action we know of so far. My story on the layoffs for Insider Business is below and my DMs are open if anyone wants to chat. Are you surprised by the news today? If so, what surprises you? Let me know below or message me. #layoffs #fdx #fedex #economy

Well, unfortunately I was part of FedEx layoffs today. If anyone knows of a company looking for an experience Quality professional please let me know. Best regards, Shannon

Rough day. FedEx is laying off more than 10% of its officer and director teams. "It is my responsibility to look critically at the business and determine where we can be stronger by better aligning the size of our network with customer demand," said FedEx CEO Raj Subramaniam. #shipping #parceldelivery #layoffs

Earlier today, FedEx announced a 10% reduction of its executive team in light of reduced consumer demand. Logistics companies, such as FedEx, are the lifeblood of our retail economy. It's too early to know if retail is in for a hard landing, but the bigger players are definitely tightening their belts. #retail #logistics #distress https://lnkd.in/gE5z7Aiq

JUST IN: #FedEx to lay off over 10% of their management employees. First it was tech, then it was retail and now it's shipping. When shipping companies are struggling, it's certainly not a good sign for what's happening with consumers. #FDX #economy #tech #retail #shipping #recession

FedEx is a lagging indicator. No one should be pessimistic. Do be prepared. "FedEx?Corp.?FDX?2.55%increase; green up pointing triangle ?is laying off more than 10% of its officer and director team as?the company cuts costs?and aligns its network with demand trends.? “It is my responsibility to look critically at the business and determine where we can be stronger by better aligning the size of our network with customer demand,” Chief Executive?Raj Subramaniam?said Wednesday in a memo to employees. “It was necessary to also look closely at the size of our leadership team and functions that could be consolidated.”? Representatives for FedEx didn’t immediately respond to a request for comment on how many employees will be affected.? In September, FedEx?said it was freezing hiring,?closing 90 FedEx Office locations, parking some cargo aircraft, reducing Sunday ground operations and closing five corporate offices to?offset a sharp drop in package deliveries. The company didn’t say at the time whether it was?cutting staff. The company said in December that?it continued to see weak demand?for packages and that it had identified an additional $1 billion in cost savings. FedEx?has faced pressure?from activist investor D.E. Shaw Group, The Wall Street Journal has previously reported. Shares of FedEx rose 2% to $197.63 in midday trading." https://lnkd.in/gPcaSNWB

After 20 + years at FedEx my time there has come to an end. Times change, priorities change and it's now on to a new adventure. I have been proud to lead great teams who implemented innovative solutions from consolidating Kinko's eCommerce systems, implementing global retail integration solutions, establishing a Mobile COE, advancing microservices to enhance customer experiences, delivering world class API solutions for 1st and 3rd party consumers and protecting our customers with modern SaaS CIAM solutions. Recently the journey of Agile to SAFe and the path toward community based development has been an interesting challenge that I'm sad I won't be able to complete for FedEx. That being said, I'm ready to take on the next challenge and hopefully help a team take advantage of some of my experience to drive their innovation and delivery of superior customer experiences. #agile #ecommerce #development #apimanagement #ciam #mobile