- fedex corp FDX plans to cut volume prospects for one of its divisions that handle e-commerce deliveries.
- The company came to the decision, Reuters reportedhow Its customers are expected to ship fewer packages during the holiday season.
- Related: Are FedEx’s troubles a sign of a recession? Maybe not for UPS, DHL and Amazon
- The message was conveyed through an internal memo to the company’s 6,000 independent contractors who perform deliveries and transportation for FedEx Ground in the US and Canada.
- “We expect volume forecasts to be revised downwards,” the report quoted Paul Melander, senior vice president of FedEx Ground.
- also read: FedEx launches $1.5 billion accelerated share buyback program
- Price promotion: FDX shares trade 1.22% lower at $153.29 on the last check Friday.
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