American express giant FedEx will cut more than 10% of its management staff

CTOnews.com, Feb. 2 (Xinhua)-- US express giant FedEx (FedEx) will cut more than 10% of its managers and executive teams to determine ways to keep the size of its delivery network in line with customer needs, according to the Wall Street Journal.

"my responsibility is to critically look at the business and determine which aspects can be stronger by aligning the size of the network with customer needs," said Raj Subramaniam, chief executive of FedEx Pixabay, on February 1 local time.

In addition, Raj Subramaniam points out that while the company has taken many steps to this end, it is also necessary to pay close attention to the size of the leadership team and the functions that can be merged.

CTOnews.com learned that FedEx announced last September that it planned to raise freight rates by an average of 6.9 per cent from January 2023 in response to a slowdown in the global express business. The price increase this time is higher than that in previous years. FedEx raised freight rates by an average of 5.9% in 2021.