FedEx to Cut Up to 2,000 Back-office Jobs in Europe Amid Weak Freight Demand

June 13, 2024, 12.12 AM
FedEx to Cut Up to 2,000 Back-office Jobs in Europe Amid Weak Freight Demand

ILUSTRASI. FILE PHOTO: A FedEx Express Boeing 737-45D (BDSF) OO-TNN aircraft is seen at the Chopin International Airport in Warsaw, Poland January 8, 2018. Picture taken on January 8, 2018. REUTERS/Kacper Pempel/File Photo GLOBAL BUSINESS WEEK AHEAD

Reporter: Syamsul AsharEditor: Syamsul Azhar

CORPORATE ACTION - JAKARTA - FedEx (FDX.N) is planning to cut between 1,700 and 2,000 back-office jobs in Europe, in its latest push to cut costs as the parcel delivery giant combats a slump in freight demand.

The cuts will be spread over 18 months and would result in a pre-tax cost of $250 million to $375 million related to legal fees and severance benefits, FedEx said.

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