Originally Posted by MeXC

From Yahoo Finance, via Drudge:

"I think that what we are showing by the cost reductions we had already taken and the ones that we are about to take, we have a lot more flexibility and variability in our cost structure than most people give us credit for," Chief Financial Officer Alan Graf said.

The biggest part of the cost cuts will come in FedEx Express, according to Dave Bronczek, the unit's chief executive.