FedEx CEO Is ‘More Optimistic Than Most’ on Industrial Rebound
- Factory shipments hit bottom in mid-April, courier’s CEO says
- Ground unit is hiring 4,000 drivers a week as e-commerce jumps
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FedEx Corp. is seeing a recovery of industrial shipments and hiring 4,000 workers a week to handle a flood of e-commerce packages, making Chief Executive Officer Fred Smith “more optimistic than most” about an economic rebound.
The courier needs the extra help to deal with surging residential deliveries as customers order goods online from their homes instead of venturing out amid the coronavirus pandemic, Smith said Thursday in a webcast interview with the Washington Post. On the industrial side, business hit bottom in mid-April and “there’s still a significant amount” of factory activity, Smith said.