FedEx, based in Memphis, is reportedly planning to eliminate a few positions in the information technology (IT) and finance departments as part of a realignment and streamlining exercise. Those affected will receive adequate assistance. The greater Memphis area currently has a workforce of 30,000 people.
FedEx had previously integrated its operations, including ground and air, in an effort to reduce costs. According to reports, the move saved the company $4 billion in costs.
FedEx announced in February that it planned to lay off 10% of its global officers and directors as part of cost-cutting measures.
The company consolidated its operating firms in April of this year. It is hoped that the new operating structure will provide more flexibility and efficiency in terms of customer service and creating value for team members and stakeholders.
It was revealed at the time that the transition would take place in stages, with implementation expected to be completed by June of next year. That means FedEx Express, FedEx Ground, FedEx Services, and other FedEx operating companies will be fully integrated into Federal Express Corporation by June 2024. All of them will function as a unified air and ground network under the FedEx brand.
However, it was announced at the time that FedEx Freight would continue to operate as a separate entity, providing less-than-truckload freight transportation services under the umbrella of Federal Express Corporation.