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FedEx Is Reducing Its Management Team by More Than 10%

FedEx Ground

FedEx CEO Raj Subramaniam has announced plans to lay off more than 10% of the company’s “officer and director team.”

FedEx has been struggling to maintain profitability as things have returned to normal. With more people shopping in person in the waning days of the pandemic, shipping demand has dropped considerably.

In order to adapt to the changing market, Subramaniam informed the company that cuts were coming.

As you know, we have embarked on a transformation effort to create the world’s most flexible, efficient, and intelligent supply chain for our customers. This process is critical to ensure we remain competitive in a rapidly changing environment, and it requires some difficult decisions.

Today we are in the process of informing a number of team members across our global enterprise that their positions have been eliminated as we reduce the size of our officer and director team by more than 10% and consolidate some teams and functions.

The CEO said the company’s HR team would be in contact with the impacted employees to help with “outplacement services, benefits, and severance compensation.”