Investors digest ADP’s private sector jobs report ahead of Friday’s government data, Walmart hosts investor day, FedEx shakeup combines units in cost saving move, J&J shares rise on talc lawsuit settlement, gold nears all-time high. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
that FedEx Express, FedEx Ground, FedEx Services and other FedEx operating companies will be rolled into a single entity by June 2024 in a companywide reorganization. FedEx Freight, the company's freight transportation services division, will continue as a stand-alone company within Federal Express Corp.
Raj Subramaniam will serve as president and CEO of the combined organization. John Smith will become president and CEO of U.S. and Canada ground operations at FedEx Express and assume leadership of surface operations across the FedEx Express, FedEx Ground, and FedEx Freight businesses. Richard Smith will serve as president and CEO, airline and international at FedEx Express, overseeing all other regions and FedEx Logistics.
The company expects to realize permanent cost reductions of $4 billion from the reshuffle at some point during fiscal 2025.People line up outside a newly reopened career center for in-person appointments in Louisville, Ky., April 15, 2021.
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