How FedEx, Amazon and UPS are cutting costs

How FedEx, Amazon and UPS are cutting costs- Check out in detail

FedEx, UPS and Amazon are trying different ways to keep margins in their parcel business up.

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[{"selector":"#anim-d5c95530-b35b-4ab8-b946-a10ed60ba4be [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.24811773403603%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] According to a memo to contractors performing the actual deliveries for the FedEx Ground unit, the company is to sharply reduce coverage of the US market from mid-March. Arrow

This is the second time FedEx has taken a knife to the Sunday delivery scheme it launched in 2020 to get a leg up on its competitors.

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The new round will bring down coverage to about 50%.

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[{"selector":"#anim-a8324614-b510-44b3-bcd1-b07c02731293 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.32234133831649%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] FedEx aims to achieve $3.7bn in savings in fiscal year 2023. With its low utilisation, the Sunday service is a prime candidate for cuts. Arrow

FedEx Ground registered a 9.1% drop in package volume in the quarter ended 30 November.

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Amazon is trying to boost third-party traffic in its parcel fulfilment network.

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