Job Cuts For FedEx & Rivian

<p>"FedEx (FDX) acted like a tech company during the pandemic as it hired many employees. The latest news is that FedEx is expected to cut officer and director ranks by 10%. The shipment company has reduced staffing by 12,000 workers since June. Also, Rivian (RIVN) is laying off 6% if its workforce to cut costs. Rivian said that they will focus on ramping up vehicle production and reaching profitability," says Renita Young.</p>