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February 6, 2009
FedEx Freight, a subsidiary of FedEx Corp., laid off an unknown number of dock workers Thursday.
Sources said that at least 25 workers were laid off and more cuts may be coming.
FedEx confirmed the layoffs Friday, but would not comment on the exact number of layoffs or if any additional FedEx Freight jobs would be cut.
The layoff marks the latest trend that has plagued less-than-truckload providers during the economic downturn.
In December, the American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index plunged 11.1 percent, marking the largest month-to-month reduction since April 1994 when the unionized less-than-truckload industry was in the midst of a strike.
FedEx Corp. (NYSE: FDX) is Memphis’ largest employer, counting about 30,000 on its payroll locally.
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