“FedEx Freight, the company‚Äôs less-than-truckload arm unit, says an unspecified number of its employees will be furloughed in early December to match lower-than-expected demand.

The furloughs will last around three months. During this time, workers will still receive health benefits and may file for unemployment benefits with the state.”

Analyst Comment: Christmas is the busiest time for shipping. Most shippers bring on temp workers to keep up with the demand. FedEx furloughs are a sign that they see a huge slowdown.