FedEx Sees Permanent Cost Reductions From The DRIVE Transformation Program Of $1.8B
Portfolio Pulse from Benzinga Newsdesk
FedEx has announced that it expects permanent cost reductions of $1.8 billion from its DRIVE transformation program.
September 20, 2023 | 8:08 pm
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FedEx's DRIVE transformation program is expected to result in permanent cost reductions of $1.8 billion, which could improve the company's profitability.
The announcement of a significant cost reduction is generally seen as positive news for a company. It implies that the company is effectively managing its expenses, which could lead to improved profitability. This could potentially have a positive impact on FedEx's stock price in the short term.
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