Reported 1 day ago
FedEx is preparing to spin off its less-than-truckload (LTL) unit, FedEx Freight, by June 2026 amid challenges from a weak industrial economy. The unit experienced a 5.3% revenue decline year-over-year, attributed to decreased shipments and tonnage. Despite the downturn, FedEx is focusing on operational efficiency and is actively searching for a new CEO to lead the standalone company post-spinoff.
Source: YAHOO