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

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.