Nothing is more important in any business than its brand. And branding is very serious business. But what’s even harder than branding, is RE-branding.
Building a brand from scratch is very hard. Not for quitters. But at least you’re trying to reach open minds. As in, Now there’s a place to buy tacos, and it’s called Taco Bell. But if you add hamburgers and re-brand as, say, Taco & Burger Bell, people probably will never quit saying Taco Bell.
FedEx announced plans to increase profits by $1.7 billion a year at a two-day meeting for investors this week. Most of that increase will come from cuts to the company’s oldest and largest division—FedEx Express.
FedEx Founder Fred Smith will cut costs at his flagship Express division. Smith made his announcement at a dinner at the Hilton Memphis where investors ate barbeque and banana pudding, then Smith stood up and told them his goal is to increase profits by $1.7 billion a year.
Smith will offer thousands of Express employees voluntary buyouts, close facilities, and increase automation.
“We are revamping the FedEx Express cost-structure through a combination of cost-reductions, efficiency improvements, and service repositioning,” Smith said.