- FedEx Corp (NYSE:FDX) plans to slash the volume outlook for one of its divisions handling e-commerce deliveries.
- The company arrived at the decision, Reuters reported, as its customers are expected to ship fewer packages during the holiday season.
- Related: Are FedEx’s Troubles Indicative Of A Recession? Perhaps Not For UPS, DHL And Amazon
- The message was conveyed to the company’s 6,000 independent contractors that handle delivery and trucking for FedEx Ground in the U.S. and Canada through an internal memo.
- “We expect there to be downward adjustments to volume forecasts,” the report quoted Paul Melander, a FedEx Ground senior vice president.
- Also Read: FedEx Adopts $1.5B Accelerated Share Repurchase Program
- Price Action: FDX shares are trading lower by 1.22% at $153.29 on the last check Friday.
Ethereum Falls Below $1,600; Arbitrum Becomes Top Loser
Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices trading below the $26,000 level on Monday.
Ethereum (CRYPTO: ETH) also traded lower, falling below the key $1,600 mark this morning.
