US annual inflation rate slowed to 3.3% in May 2024, the lowest in three months, compared to 3.4% in April and forecasts of 3.4%.
FedEx's latest round of layoffs moves initiatives under Network 2.0 to the next stages, says Jonathan Chappell, senior managing director at Evercore ISI. FedEx is reducing its headcount in Europe by as many as 2,000 people as it continues its cost-cutting efforts. First unveiled in 2022, Network 2.0 is a multi-year effort aimed at improving how FedEx picks up, transports and delivers packages.
The job cuts will impact back-office and commercial teams.