FedEx to Lay Off up to 2,000 Employees in Europe as Cost-Cutting Efforts Continue
By Denny Jacob
FedEx plans to lay off up to 2,000 employees in Europe as the shipping giant continues extensive cost-cutting efforts.
The delivery company said Wednesday its proposals aim to reduce headcount across FedEx back-office and commercial teams by 1,700 to 2,000.
FedEx said the changes in Europe will include removing positions and consolidating teams in the affected back-office and commercial functions. Certain activities performed across the region will also be consolidated to be located in select shared activity centers that are in countries best aligned with its needs and existing real estate footprint, it said.
"We do not take these decisions lightly, but they are essential to putting FedEx on the right path for the future," said Richard Smith, president and chief executive officer, Airline and International, FedEx.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
June 12, 2024 07:33 ET (11:33 GMT)
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