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FedEx to take up to $575 million charge as it starts voluntary buyouts

Staff Writer |
FedEx said it could take as much as $575 million in charges as it began offering voluntary cash buyouts to certain U.S-based employees in a bid to reduce costs.

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FedEx had said that the vast majority of its buyout offers would be made to workers at the FedEx Express unit, which has 227,000 employees, and at FedEx Services, which employs 30,000 people.

The company also slashed its 2019 forecast that month blaming a weakening European economy and U.S. trade tensions that exacerbated a slowdown in China.


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