FedEx announced it planned to lay off 10% of its officers and directors, citing a slowdown in demand.

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FedEx to Cut 10% of Management Jobs

Meanwhile, Fedex, the next company, be hit with mass layoffs as the transport company announcing they're going to cut 10% of their officers and directors. The cost cutting measure comes his customer demand for packages slows down after the busy holiday season. The surgeon, online shopping during the pandemic has also seen a major slowdown. Fedex Ceo, saying in a statement to employees that the decision was unfortunate but quote necessary action.