FedEx will cut jobs to boost profits | OregonLive.com
"FedEx said last month that the economic recovery is stalling, and
it's going to get worse next year. It slashed its earnings forecast for
the fiscal year ending in May. It said a continued slowdown in the
developed world combined with high fuel prices will keep trade volumes
trailing growth in the world's economies, mimicking a trend seen in the
last two recessions.
Larger rival United Parcel Service Inc. lowered its forecast for all
of 2012 and said its third-quarter earnings will fall below last year's
results. UPS said many customers fear what's in store for the second
half of the year.
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