We’re Going Into A Worldwide Recession, FedEx CEO Warns “Numbers Don’t Portend Very Well” | ZeroHedge

“Global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the U.S. We are swiftly addressing these headwinds, but given the speed at which conditions shifted, first quarter results are below our expectations,” said Raj Subramaniam, FedEx Corporation president and chief executive officer.“While this performance is disappointing, we are aggressively accelerating cost reduction efforts and evaluating additional measures to enhance productivity, reduce variable costs, and implement structural cost-reduction initiatives. These efforts are aligned with the strategy we outlined in June, and I remain confident in achieving our fiscal year 2025 financial targets.”

Source: We’re Going Into A Worldwide Recession, FedEx CEO Warns “Numbers Don’t Portend Very Well” | ZeroHedge

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