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FedEx Freight is set to boost the industry: Logistics giant FedEx’s trucking spin-off FedEx Freight — which recorded a revenue of USD 9.4 bn in FY 2024 — is projected to boost the firm’s core operations with a projected value of between USD 30 and 35 bn, Reuters reported on Friday, citing Citi estimates. The spin-off is slated to be completed within 18 months, and is said to reduce risks and separate the business when freight demand is favorable. The logistics giant indicated last June it was considering the consolidation of its Express, Ground and Services units in a major shift from the two-network system the company has run for decades.
In the works for a while: FedEx was reportedly merging its ground, air, and other operations into a single entity to reduce expenses and enhance competition against rivals such as United Parcel Service and Amazon last year. The consolidation was set to be complete by June 2024 and comes as part of a wider plan to cut some USD 4 bn in costs by 2025.
Amazon workers at seven US facilities went on strike last week amid the holiday shopping rush in protest of the retailer’s unfair treatment of its employees, Reuters reported on Thursday. Workers in New York, Atlanta and San Francisco joined the biggest strike action against Amazon. The action is calling on Amazon to pay its workers fairly, pay its fair share of taxes, observe workers’ right to join unions and commit to sustainable climate action.
More of the same: Amazon employees said they planned to strike across 20 countries on Black Friday, 29 November and Cyber Monday, 2 December to demand more rights and climate action. Workers and union reps planned for action in a number of countries including Turkey, the UK, the US, Germany, Canada, India, Japan, and Brazil.
Taiwan’s China Airlines is set to order 24 aircrafts from Boeing and Airbus valued at almost USD 12 bn as it revamps its fleet, Bloomberg reported on Thursday. Deliveries are forecasted to begin in 2029. The air carrier is slated to order 10 twin-aisle jets from each Airbus and Boeing, as well as four of Boeing 777-8 cargo freighters, according to a stock exchange filing released on Thursday.
