FedEx Ground to lower holiday volume forecasts -internal memo
© Reuters. A FedEx last-mile delivery van is seen near a FedEx Ground distribution center in Carson, California, U.S., September 16, 2022. REUTERS/Bing Guan
By Lisa Baertlein
LOS ANGELES (Reuters) – The FedEx Corp (NYSE:) division that handles most of the company’s e-commerce deliveries plans to lower volume forecasts because its customers plan to ship fewer holiday packages, according to an internal memo obtained by Reuters.
“We expect there to be downward adjustments to volume forecasts,” Paul Melander, a FedEx Ground senior vice president said in a message to the unit’s delivery contractors earlier this week. The new forecasts will be available on or about Oct. 21.
“These changes will reflect the latest information from customers about how they anticipate current conditions are likely to decrease their volumes this holiday season,” Melander said.
FedEx did not immediately respond to requests for comment.