FedEx is cutting jobs, too. And though its quarterly revenue rose just 2 percent, its earnings grew 7 percent. The company has cut maintenance costs by replacing older aircraft with more fuel-efficient planes. The shift helped reduce maintenance costs 11 percent in the June-to-August quarter.The new planes are merely replacing older aircraft rather than expanding FedEx's fleet. So the economy doesn't stand to benefit as much.
As US Economy Plods And Pay Lags, Companies Profit
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