FedEx Corporation (NYSE: FDX) has decided to stop Sunday deliveries to certain low-density parts of the U.S. to curb the rising cost of contractors and increase efficiency. A bulk of FedEx’s home deliveries are handled by contractors, which reach nearly 80% of the American populace on Sundays. The delivery curb is scheduled to start on August 15. FDX stock closed at $227.66 on July 21. Contractors Demand Higher Compensation A few of FedEx’s independent contractors are demanding higher compensation as they skirt rising fuel prices, labor shortages, and vehicle maintenance costs.
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