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Memphis (US): FedEx Corporation has laid off 1,000 employees as Q3 results had dropped 75 per cent. The company according to sources, has said that 50 per cent of the dismissed workers were employed in Memphis, where it has the largest unit and where it has its headquarters. FedEx has about 33,000 employees in the Memphis area and 290,000 worldwide.
FedEx had earnings of $97 million compared with $393 million a year ago in the December-February period.
