MEMPHIS, Tenn. (WMC) – Memphis-based FedEx is planning to cut between 1,700 and 2,000 back-office jobs in Europe, CNBC reports.
It comes as freight demand has weakened in both Europe and the United States.
The cuts will be spread over 18 months, with the downsizing aimed at saving between $125 million and $175 million per year.
FedEx had outlined plans to cut $4 billion in costs by the end of fiscal 2025, including $1.8 billion in fiscal 2024, as part of a plan to restructure delivery networks and tighten capacity.
Click here to sign up for our newsletter!
Click here to report a spelling or grammar error. Please include the headline.
Copyright 2024 WMC. All rights reserved.