FedEx Announces Today Plans to Cut Up to 2,000 Jobs in Europe, Saving $175 Million

Jun 12, 2024, 11:56 AM

FedEx has announced today plans to cut between 1,700 and 2,000 back-office jobs in Europe over the next 18 months. This decision comes as part of the company's cost-cutting efforts to address weak freight demand. The layoffs are expected to save FedEx up to $175 million annually, though the total cost of the layoffs could reach up to $375 million. The affected positions will primarily be in the company's European back-office and commercial teams.