05/07/2009 05:12 am ET Updated May 25, 2011

FedEx: 1,000 Layoffs Confirmed

FedEx Corp. has confirmed that the company has cut 1,000 jobs worldwide, including 500 in its headquarters city of Memphis, Tenn.

Company spokesman Jesse Bunn said the employees were "salaried exempt" professionals and managers. The laid off workers will be given severance packages, advance notice of job openings and career counseling.

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