• FedEx boss warns of a 'worldwide recession' and outlines plans to close stores, freeze hiring, trim hours, and park planes to cut costs

    15 days ago - By Business Insider

    A FedEx delivery truck is seen on August 07, 2019 in Fort Lauderdale, Florida. Joe Raedle/Getty Images
    FedEx's CEO said he thinks the world is heading into a recession.
    The company reported disappointing earnings, blaming reduced package demand and worsening economic conditions.
    FedEx will cut costs by reducing flights, closing 90 retail locations, and trimming hours.
    FedEx's CEO says we're barreling toward a global recession. His comments in a CNBC interview came after the firm reported disappointing first-quarter results and announced a slew of aggressive cost-cutting measures to help it...
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  • Bed Bath & Beyond is closing 150 stores. Here are the locations confirmed so far

    15 days ago - By Business Insider

    Bed Bath & Beyond is closing around 150 stores as it attempts to cut costs. Joe Raedle/Getty Images
    Bed Bath & Beyond is closing around 150 stores and laying off staff.
    Sales in the second quarter slumped roughly 26%, and it is aggressively cutting costs.
    It has now named 56 of the stores set to close across 21 states. The list can be seen below
    Bed Bath & Beyond is closing around 150 "lower-producing" stores across the US as it attempts to cut costs amid slumping sales, it announced in late August. The retailer also said it plans to cut around 20% of corporate and supply-chain staff. By...
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