Companies · FDX
FedEx
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Updated Jul 24, 2026
FedEx adopts unified executive severance plan; approves $1B+ structural cost-save achievement bonus.
FedEx formalized a new Executive Severance Plan replacing prior individual retention agreements, establishing uniform severance multiples (2x salary for CEO, 1.5x for 10+ year executives, 1x for others) with restrictive covenants clawback provisions. The Board simultaneously validated that structural cost savings exceeded the $1 billion target announced during fiscal 2026 transformation, triggering special bonuses of $1.9M for CEO Rajesh Subramaniam and $850K for CFO Brie Carere across approximately 1,100 eligible managing directors and above. The dual action signals confidence in operational reset and locks executive alignment through covenant discipline.
Tone: bullishRevenue
$94.7B
FDX 10-K · FY 2026
Employees
530,000
Revenue FY2025
$87.9B
Founded
1971
Profile
FDX 10-K Item 1 · Jul 20, 2026FedEx Corporation is a global transportation, e-commerce, and business services company operating a fully integrated air-ground express network serving more than 220 countries and territories. Following the June 2026 spin-off of FedEx Freight, the company operates two reportable segments: Express U.S. Domestic and Express International, collectively referred to as Federal Express. The company is executing a multi-year transformation — Network 2.0 and Tricolor — to consolidate facilities, optimize its air network, and lower its structural cost to serve.
Read filing description ↓ Collapse description ↑
FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services, offering integrated business solutions utilizing its flexible, efficient, and intelligent global network. Federal Express pioneered the express transportation industry over 50 years ago in 1973 and remains the industry leader today, providing a range of rapid, reliable, time- and day-definite delivery services to more than 220 countries and territories through an integrated air-ground express network. As of May 31, 2026, Federal Express employed approximately 452,000 employees and had approximately 84,000 drop-off locations, 700 aircraft, and over 180,000 motorized vehicles in its global network. Federal Express contracts with approximately 5,300 independent small businesses to conduct certain linehaul and pickup-and-delivery operations. We are shifting from a collection of separate but powerful operations to one integrated, flexible, efficient, and intelligent network that delivers better service, runs on a modern technology stack and has a structurally lower cost to serve. Through Network 2.0, we continue to transform our surface network in the U.S. and Canada by modernizing and consolidating our sortation facilities and equipment, reducing pickup-and-delivery routes, and optimizing our enterprise linehaul network. With Tricolor, we are redesigning our international air network by deploying our aircraft strategically to optimize asset utilization and enable a focus on growth in the premium global freight market. Our digital transformation is underpinned by our digital backbone and artificial intelligence capabilities, enabling intelligent orchestration, standardization, and digitized and AI-enabled workflows that drive faster response, fewer exceptions, and lower our cost to serve. We believe it would be extremely difficult, costly, and time-consuming to replicate our global network, which reflects decades of investment, innovation, and expertise, includes the world's largest all-cargo air fleet, and connects more than 99% of the world's gross domestic product.
Primary products
- FedEx First Overnight
- FedEx Priority Overnight
- FedEx Standard Overnight
- FedEx 2Day
- FedEx 2Day AM
- FedEx Express Saver
Business segments
End markets
Geographies
Named customers
Named competitors
“Federal Express pioneered the express transportation industry over 50 years ago in 1973 and remains the industry leader today, providing a range of rapid, reliable, time- and day-definite delivery services to more than 220 countries and territories through an integrated air-ground express network.” Competitive position, as stated in the filing
Revenue commentary · FY 2026
Revenue increased from $87.9 billion in fiscal 2025 to $94.7 billion in fiscal 2026, reflecting growth across the consolidated network including the full-year contribution of FedEx Freight prior to its spin-off on June 1, 2026.
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