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FedEx Mulls Over Axing 6,300 jobs Across Europe 

FedEx Mulls Over Axing 6,300 jobs Across Europe 

FedEx is reportedly planning to let go of 6,300 employees in Europe as it gears up to finalising combining its operation with a Dutch delivery company it had bought in the year 2016. The company said that the cuts will be made over over the next 18 months and would include express-delivery operations along with back-office staff of TNT Express across the continent.

 

FedEx which is based in Memphis, Tennessee informed in a statement that the severance payments for around 5,500 and 6,300 axed jobs will cost the company around $300 million and $575 million through the year 2023. However, it pointed out that the decision will help save the organisation around $275 million and $350 million annually beginning in the year 2024.

 

Karen Reddington who is the president of FedEx’s European express-delivery operation spoke of how the layoffs are important for the company and would aid in making it more competitive in the evolving market. Overall, the company employs about 245,000 people across the world, including about 43,000 in TNT.

 

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