FedEx Plans To Lay Off 900 At Freight Unit

By: Associated Press
By: Associated Press

FedEx's freight unit says it will lay off 900 employees, saying that sluggish demand has declined further so far this year.

FedEx Freight, a subsidiary of FedEx Corp., said the unit is not gaining market share fast enough to offset the steep declines in customer demand.

The unit will cut the jobs at about 130 facilities. FedEx did not specify what types of jobs will be affected.

The unit has about 35,000 employees, according to its Web site.

In December FedEx Corp. announced widespread pay cuts to stem job losses. It halted its contribution to employee's retirement plans for at least a year.

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