FedEx to incur up to US$650mil charge from voluntary buyout

The world's second-largest package delivery company had offered a voluntary buyout program for its U.S.-based employees as part of its plan to save costs at its underperforming express air freight and services divisions, and improve profit by $1.7 billion over the next four years.

The company had said it expects thousand of U.S. employees to accept the buyout program that expires in May.