FedEx Corporation is planning to reduce its delivery volume on Sundays, the Insider reported on Tuesday, citing a company memo it has had access to.

CEO Raj Subramaniam revealed in the document that the company will shift most of its attention to markets that had been showing "proven demand" on Sundays over the past two years.

The new plan, set to come into effect in mid-March, is reportedly a part of a wider package of cost-cutting measures that aim to reduce company spending by $3.7 billion.