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FedEx announces shipping rate hikes

A FedEx plane
FedEx’s rates are going up, the company announced this week.

FedEx will increase its surcharge on very large packages in November and raise other shipping rates early next year, the company announced this week.

The surcharge will rise from $57.50 to $110, effective Nov. 2. It will apply to large FedEx Ground packages, such as those that weigh more than 150 pounds.

Some fuel surcharges also will be revised Nov. 2.

Beginning Jan. 4, FedEx plans to raise rates by an average of 4.9 percent for its express, ground and freight shipments. The company plans to raise SmartPost rates too, although it didn’t say how much.

FedEx also reported disappointing results for its latest quarter and cut its full-year profit forecast this week. However, executives said they expect a record holiday season and announced plans to hire 55,000 seasonal workers, or about 5,000 more than last year.

UPS plans to hire 90,000-95,000 holiday workers, about the same as last year.

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