© Reuters. A FedEx Express delivery vehicle is seen in Long Beach, California, U.S., September 16, 2022. REUTERS/Bing Guan
(Reuters) – FedEx Corp (NYSE:) will cut more of its Sunday deliveries in March, Insider reported on Tuesday, citing an internal memo.
The report added that the full list of territories maintaining Sunday service would be finalized next month.
The move follows FedEx’s plan to take out $3.7 billion in costs that it announced last year by parking planes, closing offices, stopping rural Sunday delivery and furloughing workers in its freight division.
FedEx did not immediately respond to a Reuters request for a comment on the Insider report.
The U.S. delivery giant has been trying to cut costs to offset cooling demand and pivot towards more profitable deliveries.
Shares of FedEx were down 1% in morning trade.
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