FedEx puts people first in January
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FedEx puts people first in January

January has seen FedEx, the freight and shipping giant, make two big announcements that demonstrate its commitment to treating people ethically: the first is to sponsor Truckers Against Trafficking – a non-profit that is working diligently to eliminate the disturbing crime of human trafficking, and the second is to commit to a major influx of cash into its workforce’s salary.

FedEx’s share price has appreciated by 35% over the past year

graph 0202 fedex

SOURCE: Yahoo Finance

FedEx Freight president and CEO Mike Ducker made the following statement to the press: “As a company with team members out on our nation’s highways every day, FedEx is proud to support Truckers Against Trafficking in its quest to call attention to, and fight, this serious crime that is impacting lives across the U.S. By educating our team members on what to watch for and empowering them to take a stand, we are committed to making a difference on this issue and look forward to working with Truckers Against Trafficking.

Kendis Paris, executive director of Truckers Against Trafficking, added: “The partnership between TAT and FedEx will significantly increase the trained 'eyes and ears' along our nations roadways, and we are thrilled to be working with such an industry leader."

In other news from last week, FedEx also pledged to commit more than $3.2 billion in wage increases, bonuses, pension funding, and expanded U.S. capital investment in light of the Tax Cuts and Jobs Act.

Over $200 million will go to salaries, while $1.5 billion will be pumped into the company’s pension plan “to ensure it remains one of the best funded retirement programs in the country.” A further $1.5 billion will be used to “significantly expand” the FedEx Express Indianapolis hub over the next seven years. The company has similar plans for its Memphis hub, but they won’t be revealed until spring.

Disclosure

Dominion holds FedEx in its Global Trends Ecommerce Fund.


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