FedEx to cut as many as 2,000 Europe jobs to reduce costs

FedEx Corp. plans to cut as many as 2,000 jobs in Europe, the latest move by the package-delivery giant to streamline its global workforce and rein in costs.

The courier plans to remove and consolidate roles across its back-office and commercial operations, according to a statement Wednesday. The changes won’t impact customers or delivery service, FedEx said.

The plan will generate annual savings of up to $175 million beginning in fiscal 2027, FedEx said. The company anticipates pretax costs of as much as $375 million from severance and related expenses from the layoffs.

The moves, subject to country-level consultations, add to sweeping workforce reductions since FedEx revealed a plan last year to restructure its delivery networks and save billions in costs. The company in March of this year acknowledged that headcount had shrunk by almost 22,000 jobs over the prior year through attrition and cuts. 

FedEx shares fell less than 1% at 9:45 a.m. in New York.