FedEx warns of global recession; independent contractors raise concerns (CNN)


FedEx Corp. warned that a global recession could be coming and said the weakening economy could cause it to fall $500 million short of its revenue target, CNN reported. The delivery giant is delaying some hiring plans and closing 90 FedEx Office locations. CNN also reported FedEx Ground service independent contractors are raising concerns about rising costs for fuel, labor and new vehicles that have made their businesses unprofitable. Some are threatening to halt operations on Black Friday, the start of the holiday shopping season.