FedEx to cut up to 2,000 jobs in Europe / Photo: JUSTIN SULLIVAN - GETTY IMAGES NORTH AMERICA/AFP/File
-
Arlington sentinel rebukes Pete Hegseth entourage for laughter near memorial
-
Yella Beezy sentenced to life for arranging rapper Mo3’s murder
-
Kylie Jenner employee describes closet ordeal and pepper-spray incident
-
Authorities to identify Montauk Mary and five other Long Island cold-case victims
-
Davante Adams injury deepens Los Angeles Rams receiver shortage
-
Barbie sequel negotiations stall over reported $25 million pay packages
-
João Franco’s earlier post draws attention after arrest over fatal Turkey brawl
-
Bath & Body Works launches buy-one-get-one-free candle offer
-
Alberta Launches $5M Fund for Women’s Neurology Research to Address Gender Gaps
-
Itlu Arjuna receives U/A certificate ahead of theatrical release
-
Dhananjaya de Silva guides Sri Lanka to 221-4 against Pakistan
-
Niraj Kumar earns Los Angeles Olympic quota with 50m rifle bronze
-
Delhi gold loses Rs 800 while silver falls Rs 5,000
-
India extends micro-credit guarantee plan for five years
-
Madlanga Commission Deadline Extended to 2027 Amid Calls for Structural Justice Reform
-
Pradeep Antony, Smeha Manimegalai portray secret spouses in Mr & Mrs Office
-
Zelenskyy arrives in Dublin for meetings on Ukraine and peace efforts
-
Woman barred from every Greggs outlet after series of offences
-
Jury hears social-media image helped identify teen in Scarlett Faulkner case
-
Ketchup packets link suspect to break-in at Eddie Rocket’s restaurant
-
American Airlines passenger falls ill and vomits on three travellers
-
Spain's General Strike Links Housing Crisis to Lost Purchasing Power
-
Euro-Area Inflation Reaches 4% as Energy Prices Jump
-
China's Factory Inflation Accelerates While Consumer Demand Stays Weak
-
US Adds 165,000 Jobs as Unemployment Falls to 4.1%
-
Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
-
Energy Costs Push OECD Inflation Up to 4.5%
-
OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
-
China's Trade Surplus Passes $1 Trillion as Technology Exports Surge
-
China's Singles' Day Exposes Persistent Consumer Caution
-
US Inflation Broadens as Fed Officials Consider Faster Rate Hikes
-
Irish police prepare for further hoax bomb threats after hundreds of schools targeted
-
Korea, Singapore and New Zealand Advance Green Trade Pact Talks
-
RBA Inflation Target Origins: Why Australia Chose a Range Over Zero
-
Ireland and Ukraine consider drone cooperation memorandum after Dublin talks
-
Sister recounts fatal machete attack as Irish murder trial continues
-
Georgia refrigeration company sues EPA after five-year HFC reprieve
-
HoloCoder technology promises brighter smartphone images and 3D depth data
-
EU proposes broad consumer safeguards for apps, subscriptions and ticketing
-
Early Black Friday Walking Pad Deals: Urevo and WalkingPad Discounts
-
Nvidia faces scrutiny over alleged Chinese intelligence link to Jensen Huang
-
Radical Numerics develops offline AI tool to detect engineered pathogens
-
Chennai orders inquiry after dogs die at shelter; two veterinarians face action
-
Kiara Advani Reveals Sidharth Malhotra’s Reaction to Toxic Backlash
-
Startup turns Chennai’s history and culture into an interactive world
-
Four firms compete to design Chennai’s model mobility corridors
-
Medical Care Technologies Inc. (OTCID:MDCE) Delivers 270% Net Income Surge in Q3 as Profitability Accelerates
-
Agassi Sports Entertainment Announces Strategic Media Alignment with Sinclair Television Group and Tennis Channel to Expand Racket Sports Reach
-
SMX Targets Global Recycling Challenges With AI-Powered Material Intelligence Platform
-
Ainos Secures Largest Order in Company History: $9 Million ASE Agreement for 5,000 Additional AI Nose Systems
FedEx to cut up to 2,000 jobs in Europe
FedEx will eliminate up to 2,000 jobs in Europe as part of a cost-cutting drive in response to lackluster demand, the shipping company announced Wednesday.
The company, which is based in the southern state of Tennessee, said the targeted positions will cover back-office and commercial functions.
The plan is to eliminate between 1,700 and 2,000 jobs "subject to local law and consultation processes," the company said, adding that the process will unfold at a country-by-country level "with differing timelines across the region."
The company said there would be no impact on customers or service.
"We're taking necessary actions to streamline many of our functions to reduce structural costs while continuing to deliver outstanding service to our customers," said Richard Smith, chief operating officer for FedEx's international division.
"We do not take these decisions lightly, but they are essential to putting FedEx on the right path for the future."
The job cuts come as FedEx doubles down on expense reduction and downsizing in response to demand across its businesses that ranged from flat to lower in the most recent quarter.
Chief executive Rajesh Subramaniam said in March that the company expected to execute $1.8 billion in permanent cost cuts in fiscal 2024 with another $2.2 billion planned in fiscal 2025.
FedEx has reduced its overall workforce by nearly 22,000 over the last year, chief financial officer John Dietrich said on a March 21 conference call.
T.Ward--AMWN