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FedEx says it can grow by cutting costs

Published on NewsOK Modified: December 19, 2012 at 4:42 pm •  Published: December 19, 2012
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Earlier this month FedEx said it will offer some employees up to two years pay to leave, starting next year. The voluntary program is part of an effort to cut annual costs by $1.7 billion within three years.

FedEx said on Wednesday that it expects earnings of $1.25 to $1.45 per share in the third quarter. Analysts predicted per-share earnings of $1.45.

The company, based in Memphis, Tenn., also estimated $6.20 and $6.60 per share for the year ending in May, excluding charges from the company's buyout plan. Wall Street is looking for $6.34 per share.