According to a report submitted to the U.S. Stock Exchange, FedEx Express will reduce the number of its employees in Europe by thousands in the next few years.

In 2016, the US FedEx acquired the Dutch TNT Express express service for more than four billion euros as part of its expansion in Europe. As a result of the transaction, the world’s largest carrier has acquired an extensive European air and road network.

Following the acquisition, FedEx has now integrated TNT’s air and road networks and IT systems into technology and infrastructure investments.

Eliminating duplication of 5500-6300 jobs could be lost, bringing the company cost savings of $ 275-350 million for fiscal year 2024.

FedEx Express offers air package services in 220 countries and territories around the world. Its parent company, FedEx Corp., employs 600,000 people worldwide and has annual sales of $ 75 billion.

The number of non-force deliveries is steadily declining, and those still in existence are trying to stay afloat in the growing headwind. At HVG, we are tenacious, do not give in to pressure and bring in domestic and international news every day.

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China does not believe FedEx misplaced Huawei packages


China will launch an investigation into U.S. global shipping company FedEx after Huawei Technologies ’large Chinese technology company packages were“ hijacked ”without permission, CGTN China International News Channel reported.

FedEx could be added to China’s list of unreliable companies


The FedEx US Mail service may be added to China’s list of unreliable companies because it did not deliver a package containing a Huawei smartphone to a U.S. recipient, the China Global Times news portal wrote on Sunday.

Etna broke out again