Memphis, Tennessee-based FedEx Corporation (FDX) is the leader in global express delivery services, providing transportation, e-commerce, and business services in the U.S. and internationally. With a market cap of $67.

The stock's fall snapped a two-day winning streak.

Most of those being laid off locally work as couriers. The express shipping giant has announced job cuts in markets across the country in the past three months.

Italian police on Wednesday seized 46 million euros from the Italian unit of US transportation, e-commerce, and business service giant Fedex in a probe into alleged tax fraud involving so-called 'reservoirs pf workers' who were allegedly employed without benefits.

Italian tax police have seized 46.6 million euros ($48.4 million) from FedEx's local unit, FedEx Express Italy srl, following an investigation into alleged tax fraud linked to illicit labour supply, prosecutors' documents showed on Wednesday.

STATEN ISLAND, N.Y. -- FedEx, which, according to local reports has announced several nationwide facility closures and layoffs in recent months, has confirmed that it will soon close its only Staten Island Ship Center, located at 2400 Richmond Terrace in Port Richmond.

John Smith, FedEx chief operating officer of U.S. and Canada surface operations, is set to lead FedEx Freight in the interim until a new CEO is named, according to a news release. The company did not issue a timeline on when a new CEO is expected to be named, but did note the FedEx Freight separation remains on track to be completed in 18 months .

An Amtrak commuter train hit a FedEx truck in Marysville Monday morning, according to the Marysville Fire Department.

West Virginia has been abuzz about delays with package delivery service FedEx over the past few weeks, with some customers claiming that they haven't received crucial items like food and medicine in nearly a month.

Complaints continue to mount regarding FedEx delivery service in the Morgantown area. The Complaints Against Morgantown FedEx Terminal Facebook grew from 208 members on Thursday to 271 on Monday. FedEx told The Dominion Post on Thursday it was taking action to solve the problems,

Officials are urging drivers to find an alternative route as they work to secure the area between the I-270 split and Democracy Blvd.

Part of I-490 shut down overnight after a FedEx truck jackknifed, shutting traffic down for nearly two hours on the highway.