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FedEx Delivers Salary Cuts To Managers
by Wendy Kaufman, NPRDecember 19, 2008
FedEx reported higher profits in its most recent quarter, but it sees trouble ahead. The package delivery giant is cutting salaries for some 36,000 managers. CEO Fred Smith will take the biggest cut percentage-wise, but all managers' paychecks will shrink. FedEx and its main rival UPS are seeing overall package volume fall as the economy slows.
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