FedEx to Speed Up Raises for Workers, Invest in Indianapolis Hub
January 26 2018 - 9:51AM
Dow Jones News
By Austen Hufford
FedEx Corp. (FDX) said it would speed up a planned pay increase
as a result of the recently enacted U.S. Tax Cuts and Jobs Act.
The company said it would advance a 2018 annual pay increase for
hourly workers by six months, moving the raise date to April from
October. It will also increase performance-based pay for salaried
workers.
FedEx said it would also add $1.5 billion to its pension
plan.
The company is investing an additional $1.5 billion to expand
its FedEx Express Indianapolis hub over the next seven years.
FedEx said it thinks the tax cuts will likely increase GDP and
investment in the U.S.
Shares in FedEx were inactive in premarket trading.
Write to Austen Hufford at Austen.Hufford@wsj.com
(END) Dow Jones Newswires
January 26, 2018 09:36 ET (14:36 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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