FedEx operates 3-4 shipping based companies. Freight [1] and Custom Critical [2] are seperate entities. Both of which operate independently.

The downside of fedex's seperate companies is there is a lack of logistical coordination at the national level. I.e. If they have a ground 28' trailer full at a smaller location and a separate 28' LTL Freight trailer, they will send two drivers instead of 1 long haul driver with a doubles configuration.

[1] https://web.archive.org/web/20080206004244/http://www.fedexf...

[2] https://about.van.fedex.com/our-story/company-structure/cust...