FedEx Freight announces another round of driver furloughs

FedEx Freight, the less-than-truckload unit of FedEx Corp., (NYSE: FDX) announced late Friday it has enacted another round of temporary driver furloughs in some U.S. markets in what it called an effort to “align our workforce with operational requirements.”

The unit did not disclose the number of furloughed drivers. Nor did it state how long they might be furloughed.

Some eligible employees will be offered permanent transfer opportunities to other markets that have hiring needs, according to a FedEx statement. FedEx Freight will maintain health benefits and provide other financial incentives for furloughed employees. 

The company also said it “will continue to evaluate the environment and bring back furloughed employees as business circumstances allow.”

In November, FedEx Freight announced 90-day furloughs of an undetermined number of drivers. Those furloughs started in December.

Like other LTL carriers, FedEx Freight has been impacted by weaker volumes stemming from a decline in industrial production activity. Industrial shipments are LTL carriers’ livelihood.