FedEx outlines cost-cutting plan; to cancel flights, close offices

FedEx committed to repurchasing $1.5 billion of its common stock this fiscal year, including $1 billion in the current quarter, even as the company confirmed investors' and analysts' suspicion that it did not cut costs fast enough to offset the hit to demand.

FedEx outlines cost-cutting plan; to cancel flights, close offices
FedEx committed to repurchasing $1.5 billion of its common stock this fiscal year, including $1 billion in the current quarter, even as the company confirmed investors' and analysts' suspicion that it did not cut costs fast enough to offset the hit to demand.