Huffpost Business

FedEx Lays Off 1,000 Employees

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MEMPHIS, Tenn. — FedEx Corp. has laid off 1,000 employees to meet job cuts the package delivery company announced were coming after third-quarter earnings dropped 75 percent.

FedEx said Friday that half of the laid off workers were employed in Memphis, where the corporation and its largest operating unit, FedEx Express, are headquartered.

Before the cuts, FedEx Corp. had about 33,000 employees in the Memphis area and 290,000 workers worldwide.

Spokesman Jess Bunn said the cuts affect all of the corporation's operating units, which include its cargo airline and trucking divisions. Bunn said the company had no immediate plans for additional job cuts.

FedEx announced that job reductions were pending when it released third-quarter earnings last month.