Federal Express To Lay Off Up To 2,000 Employees Amid Workforce Reduction Plan In Europe

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Stocktwits
Federal Express To Lay Off Up To 2,000 Employees Amid Workforce Reduction Plan In Europe

(RTTNews) - Federal Express Corp., a subsidiary of FedEx Corp. (FDX) announced Wednesday a workforce reduction plan in Europe as part of its ongoing measures to reduce structural costs.

The execution of the plan is subject to a consultation process that is expected to occur over an 18-month period in accordance with local country processes and regulations. The plan will impact between 1,700 and 2,000 employees in Europe across back-office and commercial functions.

The company said it 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 to be incurred through fiscal 2026 and will be classified as business optimization expenses.

The company expects savings from the plan to be between $125 million and $175 million on an annualized basis beginning in fiscal 2027.

Tags: FDX
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FedEx Announces New Data-driven E-commerce Platform Fdx

FedEx Announces New Data-driven E-commerce Platform Fdx

FedEx Corp. announced the launch of a new digital platform, called fdx, in fall 2024 with a view to offer end-to-end e-commerce solutions for businesses of all sizes. By offering the first-of-its-kind data-driven commerce platform, the logistics major, which faces extreme competition from Amazon, aims to connect the entire customer journey by making it easier for companies to manage their supply..
RTTNews | il y a 297
Japanese Market Notably Lower

Japanese Market Notably Lower

Reversing the gains in the previous two sessions, the Japanese stock market is notably lower on Thursday after opening in the green, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling well below the 39,300 level, with weakness in index heavyweights and technology stocks partially offset by gains in exporters and financial stocks.
RTTNews | il y a 6h 5min
Thai Shares Tipped To Bounce Higher Again On Thursday

Thai Shares Tipped To Bounce Higher Again On Thursday

The Thai stock market turned lower again on Wednesday, one day after snapping the two-day slide in which it had eased just over 3 points or 0.2 percent. The Stock Exchange of Thailand now sits just above the 1,465-point plateau although it's expected to rebound on Thursday.
RTTNews | il y a 6h 35min
Indonesia Bourse Likely To Reclaim 7,400-Point Level

Indonesia Bourse Likely To Reclaim 7,400-Point Level

The Indonesia stock market headed south again on Wednesday, one day after ending the two-day slide in which it had slumped almost 100 points or 1.4 percent. The Jakarta Composite Index now rests just above the 7,380-point plateau although it's likely to see renewed support on Thursday.
RTTNews | il y a 7h 5min
Australian Market Notably Lower

Australian Market Notably Lower

The Australian stock market is trading notably lower on Thursday after opening in the green, reversing the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,200 level, with weakness in gold miners and financial stocks.
RTTNews | il y a 7h 9min
Higher Open Expected For Hong Kong Stock Market

Higher Open Expected For Hong Kong Stock Market

The Hong Kong stock market on Wednesday snapped the three-day winning streak in which it had surged almost 700 points or 3.4 percent. The Hang Seng Index now sits just above the 20,530-point plateau and it's got a positive lead again for Thursday's trade.
RTTNews | il y a 7h 20min
Rebound Predicted For China Stock Market

Rebound Predicted For China Stock Market

The China stock market on Wednesday ended the two-day winning streak in which it had spiked more than 110 points or 3.3 percent. The Shanghai Composite now sits just beneath the 3,385-point plateau although it's expected to bounce higher again on Thursday.
RTTNews | il y a 7h 35min
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