FedEx Cuts 2013 Forecast as Shift to Cheaper Shipments Widens

FedEx Cuts 2013 Forecast as Shift to Cheaper Shipments Widens

Victor J. Blue/Bloomberg

FedEx’s restructuring focuses on FedEx Express, the largest unit, where it plans to generate $1.55 billion in cost cuts and profit improvement by cutting jobs, replacing older planes and cutting fuel-guzzling vehicles.