FedEx stops some Sunday deliveries, 7-Eleven cuts jobs, Lululemon workers call for union vote
Notable business headlines include FedEx stopping Sunday deliveries in some areas as employees push for compensation, 7-Eleven shedding corporate positions amid inflationary cost pressures, and Lululemon workers calling for unionization.
Video Transcript
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JULIE HYMAN: Time to get down to business now, a look at three of the other business headlines that we're watching.
First up, taking Sundays off. Delivery service, FedEx, says it will stop delivering on Sundays in certain residential areas. That starts next month. The move comes as independent contractors franchised by FedEx pushed for more compensation and a less demanding flow of shipments. FedEx says the service cutbacks are aimed at places with lower population densities and that Sunday deliveries will continue for 80% of the US population.
7/11 is shedding corporate staff after completing its buy up of rival convenience store Speedway, this according to CNBC. 7/11, owned by Japanese conglomerate Seven & i Holdings, has cut around 880 jobs in the US as it faces cost pressures from inflation and calls from activist investors to restructure. The convenience store chain was recently ordered by regulators to sell 200 of its outlets before that Speedway acquisition could go through.
And Lululemon, the latest to see a unionization effort as workers at one of its Washington DC stores filed for a union election with the National Labor Relations Board. This, as companies around the US are witnessing a wave of collective bargaining efforts. Here's what Representative Andy Levin had to say about that wave when we spoke to him yesterday.
ANDY LEVIN: Employers shouldn't have such a huge thumb on the scale. And you're seeing the up-swelling of organizing activity. It's not like nothing I've seen in my whole adult lifetime.
JULIE HYMAN: So obviously, we seeing a big wave here. Those efforts continuing at companies, including Chipotle, Amazon, even tech giants, like Apple and Activision Blizzard, have seen their employees start to organize.
