How many employees does FedEx have? Headcount by year from its 10-K

This page is for sellers sizing FedEx as an account, analysts and anyone who needs a FedEx headcount they can cite. Every figure comes from FedEx Corporation's annual report on Form 10-K or its quarterly report on Form 10-Q, filed with the SEC. FedEx's fiscal year has ended on May 31, so fiscal 2026 ran from June 1, 2025 to May 31, 2026. From June 1, 2026 the company moved to a calendar year, and it will report the seven months to December 31, 2026 as a transition period.

FedEx employees by year

The 10-K gives full-time and part-time counts, each "approximately"; the totals and changes are our arithmetic. Earlier 10-Ks gave counts for each operating company and only a rounded company total, without a date: "our 570,000 team members" in the fiscal 2021 report and "more than 500,000 team members" in fiscal 2020. FedEx's quarterly 10-Qs don't report headcount.

530,000 or 452,000?

Search results quote both, often for the same year. They measure different things.

The 10-K doesn't give a fiscal 2026 count for FedEx Freight or FedEx Logistics, which make up most of the rest. FedEx Freight had about 40,000 employees on May 31, 2025, according to the fiscal 2025 10-K.

What the number includes

• Permanent employees, full-time and part-time. The 10-K says: "As of May 31, 2026, FedEx employed approximately 300,000 permanent full-time and approximately 230,000 permanent part-time employees and utilized approximately 5,300 service providers to conduct certain linehaul and pickup-and-delivery operations."
• Not the contracted drivers. The 5,300 service providers are independent businesses with their own employees. Their drivers deliver FedEx packages but aren't in the count.
• Not every seasonal worker. The count is of permanent staff on one day. FedEx says it "regularly" seeks to hire large numbers of part-time and seasonal workers, and it hired 469,000 full- and part-time team members in fiscal 2026. Turnover was 78% for part-time staff, mostly package handlers, and 18% for full-time staff.
• Few union members. Federal Express pilots are represented by the Air Line Pilots Association; otherwise the 10-K says only "a small number" of employees are union members.

What changed and why

• Fiscal 2022: the peak. Pandemic parcel demand pushed hiring, particularly at FedEx Ground, which the fiscal 2021 10-K said it expanded "to keep pace with demand for residential services caused by the COVID-19 pandemic." The company counted 547,000 employees in May 2022.
• Fiscal 2023 and 2024: down 42,000. FedEx's DRIVE program aimed at "alignment of our cost base with demand" and "reductions to our permanent cost structure." Full-time headcount fell from 345,000 to 306,000 over two years. On June 1, 2024 FedEx Ground and FedEx Services were merged into Federal Express under the "one FedEx" consolidation.
• Europe, June 2024 to May 2026. A workforce reduction plan in Europe "impacted approximately 1,400 employees across back-office and commercial functions" and was complete by May 31, 2026, with expected savings of about $150 million a year.
• Fiscal 2026: up 20,000, all part-time. Part-time headcount rose from 210,000 to 230,000 while full-time stayed at 300,000.
• June 1, 2026: FedEx Freight spun off. FedEx distributed 80.1% of FedEx Freight's shares to its stockholders and kept 19.9%. Before the spin-off, over 1,500 employees moved from Federal Express to FedEx Freight.
• October 1, 2026: FedEx Supply Chain sold to CMA CGM Group for cash proceeds of $1.4 billion, net of expenses.
• Still optimizing. The 10-Q for the period to September 30, 2026 says FedEx expects $1.0 billion of structural cost reduction from Network 2.0 and related initiatives by the end of calendar 2026, and describes international transformation programs started in January 2026 whose costs include severance.

Taken together, the Freight spin-off and the Supply Chain sale take roughly 50,000 people out of the business FedEx counted in May 2026 (our rough arithmetic from the latest figure each filing gives for the two units). FedEx hasn't published a post-separation count; the transition-period 10-K for the seven months to December 31, 2026 should carry the next one.

Revenue per employee

Fiscal 2026 revenue was $94,720 million, including FedEx Freight. Divided by the year-end headcount, that's $94,720 million ÷ 530,000 = about $178,700 per employee (our calculation).

Federal Express, with 452,000 employees, reported segment revenue of $82,273 million, or about $182,000 per employee on the same basis. FedEx Freight brought in $8,795 million. Salaries and employee benefits were $33,844 million, 36% of revenue and FedEx's largest expense. US customers accounted for $67,944 million, or 72% of revenue. With 43% of employees part-time, revenue per head understates output per full-time worker, so compare FedEx only with other parcel carriers, such as UPS.

Selling to a company of FedEx's size

General guidance on how a 500,000-person logistics company buys, not a description of FedEx's internal processes.

• Pick the operating company. After the separations, most of FedEx is Federal Express, now reported as two segments, Express U.S. Domestic and Express International. FedEx Office and FedEx Logistics buy for their own operations.
• Follow the labor numbers. A company that hires 469,000 people a year with 78% part-time turnover has a standing problem in recruiting, onboarding, scheduling and safety training. Tools that cut time-to-productive have a clear business case.
• Speak to the cost plan. The filings put structural cost reduction and network consolidation at the center of the strategy. A pitch that removes cost from a station, a hub or a route fits it.
• Expect long reviews. Security, safety and procurement checks come before a first order, so plan the quarter around them.

For a research routine on an account this complex, see our guide to enterprise account research, and use how to find decision makers to reach the people who own a station's or region's budget. For the wider market, our page on logistics companies covers the smaller carriers and 3PLs.

Next step: compare FedEx's workforce with its closest rival on our UPS employee count page.