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FedEx Corp. is cutting global officer and director jobs by more than 10%, the courier’s latest cost-saving measure as economic concerns and waning e-commerce weigh on demand for package delivery.

FedEx Corp. on Dec. 20 reported fiscal-year, second-quarter income that beat Wall Street expectations and revenue that fell below expectations.

FedEx Corp.’s freight unit is putting workers on furlough in some U.S. markets, adding to mounting evidence of a cargo slowdown as the company joins other large employers trimming their ranks.