Investing
FedEx to hike shipping rates, customs fees to bolster profitability
© Reuters. FILE PHOTO: FedEx signage is seen through a fence at a FedEx regional hub at Los Angeles International Airport (LAX) in Los Angeles, California, U.S., September 16, 2022. REUTERS/Bing Guan
(Reuters) -FedEx Corp said on Tuesday it would increase shipping rates and customs clearance service fees on imports from Jan. 1, 2024 as the parcel delivery company aims to boost its profitability.
FedEx (NYSE:) Express shipping rates will increase by an average of 5.9% for U.S. domestic, export and import services, the company said in a statement.
It will also hike shipping rates for its Ground and Home Delivery units by the same amount.
FedEx Freight shipping rates will increase by an average of 5.9% to 6.9%, the company said, adding that these newer rates would apply to only shipments within the U.S.
“The price adjustments reflect incremental costs associated with the current operating environment,” the company said.
The Memphis, Tennessee-based firm has been striving to boost its profitability and last year outlined a plan to slash $4 billion in costs by the end of its 2025 financial year.
Last fiscal year, FedEx slashed about 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries to cut costs.
Read the full article here
The Future of Farming is Here
I’m Living Through the California Wildfires — Here’s How Every Business Can Prepare For a Natural Disaster
Achieve Your Goals Faster With This Meditation App, Now 50% Off
Train for a New Tech Career in 2025 With This $25 Course Bundle
TikTok restores service, thanks Trump By Reuters
Why the Best CEOs Think Like Anthropologists
Earn More in 2025: Top 10 High-Yield Savings Accounts Revealed
LA Rental Prices Skyrocketing Despite Price Gouging Laws
How to Craft Marketing Campaigns That Reach Multiple Generations
What to Do If TikTok is Banned — How to Protect Your Brand
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Side Hustles4 days agoWhy the Best CEOs Think Like Anthropologists
-
Make Money5 days agoEarn More in 2025: Top 10 High-Yield Savings Accounts Revealed
-
Side Hustles7 days agoLA Rental Prices Skyrocketing Despite Price Gouging Laws
-
Side Hustles7 days agoHow to Craft Marketing Campaigns That Reach Multiple Generations
-
Side Hustles5 days agoWhat to Do If TikTok is Banned — How to Protect Your Brand
-
Passive Income5 days agoHow Pets Can Promote Better Health and Well-Being in the Workplace
-
Side Hustles5 days ago10 Roles That Are Surprisingly Well-Suited for Outsourcing
-
Side Hustles6 days agoMeta Is Laying Off 5% of Its Workforce: Read the Memo