FDX - FedEx Europe Shakeup: Plans Up To 2000 Job Cuts To Slash Costs | Benzinga
Logistics behemoth FedEx Corp. (NYSE:FDX) has unveiled a plan to streamline its operations across Europe, aiming to reduce structural costs significantly.
The restructuring initiative targets reducing 1,700 to 2,000 positions, primarily within the company’s back-office and commercial teams.
The consolidation strategy involves eliminating several positions and merging teams to enhance efficiency within the affected departments.
FedEx expects the pre-tax cost of the severance benefits and legal and professional fees to be provided under and related to the plan to range from $250 million to $375 million in cash expenditures.
These charges are expected to be incurred through fiscal 2026 and will be classified as business ...