FedEx cuts management positions

MEMPHIS, Tenn. — FedEx announced Wednesday that the company would cut 10% of global positions on its officer and director team.

“Saying goodbye to longtime colleagues and friends whom we value and respect is extraordinarily difficult,” wrote Raj Subramaniam, the company’s president and CEO. “Unfortunately, this was a necessary action to become a more efficient, agile organization.”

According to Reuters, the company has eliminated 12,000 positions since June.

It is not yet known how many of these positions are in Memphis. FedEx is by far the city’s largest employer, employing more than 30,000 people across Memphis.

The World Headquarters are here because this is where most of the executives are.