FedEx has sounded the alarm on a global recession and revealed that it will be closing multiple stores amid “significantly worsened” economic trends.
The company’s CEO Raj Subramaniam made the comment during an interview with CNBC’s Jim Cramer on Thursday.
He was asked by Cramer if he believed the economy was heading toward a “worldwide recession.”“I’m not an economist but I think so. But you know, these numbers, they don’t portend very well,” Subramaniam said.When asked if the United States’ economy has been as bad as China’s in the last few weeks, Subramaniam said, “The U.S. consumer is definitely spending less […]
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