logo
Plus   Neg
Share
Email

FedEx Corp. Announces Wage Increases, Bonuses, Pension Funding - Quick Facts

FedEx Corp. (FDX) announced three major programs following the recently enacted U.S. Tax Cuts and Jobs Act. The company announced over $200 million in increased compensation, about two-thirds of which will go to hourly team members by advancing 2018 annual pay increases by six months to April 1st from the normal October date. The remainder will fund increases in performance-based incentive plans for salaried personnel. The company also announced a voluntary contribution of $1.5 billion to the FedEx pension plan. FedEx said it will invest $1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years.

The company noted that it has made no change to fiscal 2018 earnings or capital expenditure guidance as issued on December 19, 2017.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Swedish digital music service Spotify announced the launch of its standalone Kids application Spotify Kids app in the U.S., Canada, and France. Spotify Kids app in beta is designed specifically for kids aged three and older. It offers more than 125 playlists. With the ad-free app, young listeners can explore sing-alongs, soundtracks, and stories on their own or with their families. BodySphere Inc. said the U.S. Food and Drug Administration has issued Emergency Use Authorization for its Two-Minute Testing Kit COVID-19 IgG/IgM Rapid Test Cassette, to diagnose the novel coronavirus. The company is working with State and Federal governments to deliver tests across the country directly to the front lines, as the United States is facing a surge in the coronavirus cases. Xerox Holdings Corp. (XRX) dropped its $24 per share hostile bid to acquire HP Inc. (HPQ), citing the current global health crisis and economic uncertainty caused by the COVID-19 pandemic.
Follow RTT
>