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Trade Index reveals the impact of global trade, technology, and trade policy on U.S. businesses

The 57,000 sq. m. facility incorporates advanced technologies including automated sort systems

FedEx Express revenue declined 5% to $10.3 billion and operating income was down 60% to $137 million

Initiative will contribute to establishment of globally recognised Centre of Excellence within IIT campuses

Will contribute to development of new capabilities & meeting technological requirements of FedEx operations worldwide

Additional organisational changes implemented to support ongoing transformation

FedEx expecting flat to low-single-digit-percent revenue growth for 2024, $1.8 billion of DRIVE cost savings

Other companies to be merged into Federal Express Corporation by June 2024; FedEx Freight to be stand-alone company

Fiscal 2023 capital spending forecast reduced by $400 million

We implemented strategic actions that drove double-digit yield improvement across-the-board in Q4: Raj Subramaniam

New role reflects enhanced focus on customer experience; Carere also named co-President and co-CEO of FedEx Services.

Subramaniam is a chemical engineering graduate from the Indian Institute of Technology Bombay (IIT Bombay).