FedEx to close 90 office locations, pause hiring amid decline in global demand

FedEx has said it would be closing 90 office locations, five corporate offices and delaying new hiring amid a decline in its global package delivery business. FedEx Ground's revenue fell about $300 million below company forecasts. This segment handles e-commerce deliveries in the US. On Friday, FedEx shares plunged 21.2%, marking its biggest one-day drop in more than 40 years.