New York (CNN Business) FedEx expects global trade disputes and an economic slowdown could severely hurt its business next year. Although FedEx's US business remains strong, it says its international business, especially in Europe, weakened significantly over the last three months. China's economy has weakened due in part to trade disputes," said CEO Fred Smith in a call with investors. To control costs in a looming downturn, FedEx announced Tuesday evening that it will offer buyouts to its US employees and will scale back hiring plans. It is also considering a buyout offer for international staff.

Source: CNN December 19, 2018 13:18 UTC