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Stock Market & Financial Investment News

News Breaks
February 19, 2013
17:38 EDTFDXFedEx sees pretax cost of voluntary buyout program $550M-$650M
FedEx disclosing in an SEC filing that on February 15, FedEx offered voluntary cash buyouts to eligible U.S.-based employees. The offer period will expire in 4Q13. Costs of the benefits provided under the voluntary program will be recognized in the period that eligible employees accept their offers, predominantly in 4Q13. The company expects the pretax cost of the voluntary program to range from approximately $550M to $650M in pretax cash expenditures, but actual costs will depend on employee acceptance rates. Employees in the first phase will vacate their positions on May 31, and the company expects for all eligible and accepting employees to vacate their positions by the end of FY14. In addition, a limited number of officers and managing directors have accepted voluntary buyouts to adjust our leadership team to our new organizational structure. The cost of these buyouts is included in the range referred to above and will be recognized in 3Q13 when the offers were accepted.
News For FDX From The Last 14 Days
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November 28, 2014
05:59 EDTFDXFedEx Freight drivers in Louisville reject teamsters
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November 21, 2014
08:59 EDTFDXFedEx price target raised to $179 from $149 at Bernstein
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November 19, 2014
07:23 EDTFDXFedEx, UPS preparing for earlier holiday rush after last year, WSJ says
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