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FedEx to cut up to 2,000 jobs in Europe – cost reductions in weak demand environment

FedEx announcement on Wednesday:

plans to cut between 1,700 and 2,000 jobs in Europepursues further cost reductions in a weak demand environment

Developments at FedEx are often cited as a leading indicator of economies. I guess its not breaking news that the demand picture in Europe is not overly bright, though. Perhaps news such as this will hasten further ECB rate cuts though.

Source is here if you’d like more.

EUR/USD update, wild swings on the CPI and Fed. Asia digesting it all it seems.

This article was written by Eamonn Sheridan at www.forexlive.com.

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