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    FedEx announces job cuts

    June 3, 2003
    FedEx Corp. has announced plans to trim about 14,000 jobs from its FedEx Express cargo unit, the company announced yesterday. The company said it would offer early retirement and voluntary severance programs to about 12% of its management and salaried employees. FedEx said it expects the job reductions to produce annual operating savings of $150 million to $190 million by 2005.
    FedEx Corp. has announced plans to trim about 14,000 jobs from its FedEx Express cargo unit, the company announced yesterday.

    The company said it would offer early retirement and voluntary severance programs to about 12% of its management and salaried employees.

    FedEx said it expects the job reductions to produce annual operating savings of $150 million to $190 million by 2005.

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