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FedEx
reported better-than-expected quarterly earnings and revenue Tuesday as the company announced it had achieved its $4 billion cost-cutting goal and will aim to trim another $1 billion in its upcoming fiscal year.
The company achieved its “structural cost reduction target, in the face of ongoing headwinds,” CEO Raj Subramaniam said in a media release.
“Looking ahead, I’m confident that our transformation initiatives, which are focused on integrating our networks and further reducing our cost-to-serve, will create meaningful long-term value,” he said.
