The holidays mean more shopping, and with more shopping comes more shipping.
Enter FedEx (NYSE:FDX).
On Monday, the global shipping giant announced that it will add 20,000 workers due to an anticipated 13% increase in shipping volume over the holidays. The increase is attributed to greater e-commerce shopping and last-minute gift buyers.
FedEx also added 20,000 workers last year to deal with a smaller expected increase in shipping; however, the company has added staffers throughout 2012, so a larger seasonal hiring boom wasn’t necessary.
The majority of the holiday volume is expected to go through the firm’s Ground and SmartPost delivery systems. These cheaper alternatives may lead to lower profits for FedEx, though, as they take away from the quicker — and more expensive — delivery options.
FedEx expects to handle more than 280 million packages this season, with 19 million falling on Dec. 10 — so-called “Green Monday.”
More holiday news:
- Toys ‘R’ Us to Extend Holiday Layaway Service
- Amazon Adds 50,000 Holiday Workers
- Sunny Hiring Outlooks Point to a Happy Holiday Season