FedEx (FDX) is discontinuing its operation of a Coppell, Texas, supply chain and logistics site and will dismiss the 856 people who work there, Cailley LaPara of Bloomberg reports, citing a November 21 notice filed with the Texas Workforce Commission. The reductions are scheduled to be completed by late April, according to the notice.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FDX:
- UPS, FedEx works to secure more freighters, Bloomberg reports
- FedEx price target raised to $297 from $296 at Stifel
- Elon Musk Warns Bill Gates over Long-Running Tesla (TSLA) Short Bet
- FedEx’s Positive Outlook: Buy Rating Backed by Strategic Initiatives and Earnings Growth
- FedEx price target raised to $285 from $270 at BofA
