Reuters: FedEx profit up, but cuts costs as economy worsens

[chris]

FedEx profit up, but cuts costs as economy worsens
      

DETROIT (Reuters) - Package delivery giant FedEx Corp reported a higher profit for its fiscal second quarter, meeting expectations, but announced a 20 percent pay cut for CEO Fred Smith and said it was suspending pension contributions as the U.S. economy's outlook looks bleak.<div class="feedflare">
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