- Genco, the logistics company bought by Fedex (FDX -1.2%) for $1.4B in 2014, is taking over operations from a Johnson & Johnson (JNJ +1.5%) distribution center.
- The changeover will begin in April. J&J Health Care Systems founded its Memphis Logistics Center in 2003 at at 770,000-square-foot location. The center distributes medical device and diagnostic equipment.
- Some 450 full-time workers are employed at the center, and the move will include employee changes; "some job actions" were taken last week, a spokeswoman says, but "a vast majority of the employees at our Memphis Distribution Center received offers of employment from Genco."