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

RTTNews | Pred 147 dňami
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.

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FedEx Announces New Data-driven E-commerce Platform Fdx

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Japanese Market Notably Lower

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RTTNews | Pred 5 h 58 min
Thai Shares Tipped To Bounce Higher Again On Thursday

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RTTNews | Pred 6 h 28 min
Indonesia Bourse Likely To Reclaim 7,400-Point Level

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RTTNews | Pred 6 h 58 min
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 | Pred 7 h 2 min
Higher Open Expected For Hong Kong Stock Market

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RTTNews | Pred 7 h 13 min
Rebound Predicted For China Stock Market

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RTTNews | Pred 7 h 28 min