Economy Hittin The Mail Services

FedEx. Corp is going to be cutting 1,000 jobs worldwide. I know we are in a tough time right now, but the only way we are going to stimulate the economy is spend. So get out there and spend! spend! spend!

FedEx is also reducing network capacity at both FedEx Express and FedEx Freight as well. They haven't released how many people they are going to lay off here in Georgia just yet! These job cuts are going to cost FedEx $100 million but at the same time reduce expenses by about $1 billion. In their third income FedEx only gained about $97 million down from the $393 million they made during the same quarter last year.