Fedex says suspended forecasts for results of operations

Fedex corp - board approved a 91% reduction in ceo frederick smith's base salary for six-month period from april 1, 2020 to september 30, 2020.fedex - frederick smith's base salary reduced from $115,402 per month to $10,728 per month from april 1, 2020 to september 30, 2020.fedex corp - covid-19 pandemic has significantly increased economic and demand uncertainty, potentially causing a global recession.fedex corp - since march 17, 2020, business demand in asia remains elevated.fedex corp - covid-19 pandemic and resulting significantly weaker global economic conditions have negatively impacted results of operations.fedex corp - covid-19 pandemic expected to continue to impact business, results of operations, cash flows and liquidity..fedex corp - globally, business-to-business (b2b) demand across all of transportation businesses has been negatively impacted by covid-19 pandemic.fedex corp - board reduced smith's base salary based on recommendation of its compensation committee and at smith's request.fedex - since march 17, 2020, europe demand has been negatively impacted by shelter-in-place, responsive measures taken in many european countries.fedex corp - on march 18 provided notice to lenders under 364-day credit agreement to borrow $1.5 billion under agreement.fedex corp - in united states, demand for fedex ground residential delivery services has increased.fedex corp - elected to draw down full amount available under 364-day credit agreement.
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