In the quarter ending 31 August, FedEx took in $21.7 billion in revenue, 6 percent less than a year earlier. Even so, it reported a profit of $1.08 billion, compared to $875 million in the same quarter in 2022.
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Fedex sales fell 10.1 percent to $21.9 billion in its fiscal fourth quarter ending 31 May, the company reported. Its share price dipped 1 percent on news of the shipper’s third consecutive quarterly decline.
The economic ups and downs of global shipper FedEx are seen as harbingers of the world’s economic future because the shipper carries almost every kind of product—and that future is not looking good. Last week, FedEx announced it would stop hiring, close about 90 offices, cut its number of flights, and mothball aircraft because worldwide...
Fedex and UPS are offering discounts to bulk customers such as Amazon and other retailers to ease the pain of what is expected to be a weak holiday sales season, The Wall Street Journal reported.
This is the 54th week that we have been reporting job losses. And as we note in this Trends Journal, the outlook for hiring workers for the holiday season is at a Panic of ’08 low.
Welcome to week 52... a year of our reported job losses that illustrate the factual damage resulting from the COVID War... and the scores of other socioeconomic and geopolitical tragedies committed by politicians in a country near you that are destroying the foundations of economies.
The post-COVID War economic landscape has presented an array of challenges that have profoundly affected the business community.
No recession? Everything is fine.
Thanks to the COVID War which locked down much of the globe, the economic landscape has presented an array of challenges that have profoundly affected the business community.
Workers strikes, still high inflation and high interest rates are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses. This is week 50.
This is our 27th week reporting the long trend-line of layoffs that signal a further economic downturn in a country near you. Inflation and interest rate hikes are causing companies in many sectors to lay off employees.