Fedex to of­fer buy­outs with up to 2 years’ pay

Austin American-Statesman - - BUSINESS - Com­piled from staff and wire re­ports.

NEW YORK — FedEx said Tues­day that it will of­fer some em­ploy­ees up to two years’ pay to leave the com­pany, start­ing next year.

The vol­un­tary pro­gram is part of an ef­fort by the world’s sec­ond-big­gest package de­liv­ery com­pany to cut an­nual costs by $1.7 bil­lion within three years.

Com­pany of­fi­cials said the re­struc­tur­ing plan is a re­sponse to a shift by cus­tomers away from pre­mium package-de­liv­ery ser­vices and to­ward slower, less ex­pen­sive modes as the global econ­omy strug­gles to grow.

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