FedEx Freight to Close 29 Locations and Implement Furloughs.

FedEx Freight is set to close 29 locations and consolidate its operations into other locations effective August 13, with another round of furloughs for some employees beginning at the end of May. The company did not disclose which locations would be affected. FedEx Freight will remain a stand-alone company and continue to provide less-than-truckload freight transportation services. The cost-cutting decisions come as the logistics giant looks for greater savings due to decreasing demand and high operating costs following a series of disappointing quarterly earnings reports.