20 Mar 2009

More cuts at Fedex

11:05 am on 20 March 2009

Fedex is to cut more jobs to trim the payroll again as its third quarter profit fell by three quarters.

The courier company is closely watched by analysts as a bellwether for the American economy.

It made $US97 million in the quarter, compared to $US393 million in the same period a year ago.

Fedex and its main rival, UPS are struggling as companies and people ship fewer goods.