Memphis, June 13: FedEx is planning to trim its workforce in Europe to reduce "structural costs." The US-based conglomerate, involved in transportation, e-commerce, and delivery services, reportedly released an official statement announcing the latest round of layoffs in 2024 in Europe. According to reports, the new round of FedEx layoffs would cut thousands of workers across its back-office and commercial teams. 

According to a report by The Wall Street Journal, FedEx layoffs would lead to as many as 2,000 people leaving the company amid the company's efforts to cut costs. The report mentioned that the company was informed to lay off between 1,700 and 2,000 employees from teams across back-office and commercial departments in Europe. X Layoffs: Employees at Elon Musk-Owned Company Fear About Potential Job Cuts Amid Delayed Performance Review, Says Report.

Another report by Quartz said that the delivery giant FedEx's plan to lay off up to 2,000 employees would result in the company over $370 million. The report said that the mentioned workforce had been costing the company between $250 million and $375 million through FY2026.

The report mentioned that FedEx announced a workforce reduction in response to the significant decline in global shipping demand during the COVID-19 pandemic. Many customers were forced to shop online due to health concerns, leading to a decrease in in-person shopping. FedEx assured that the layoffs would not impact its services, as the affected employees would be contracted on a rolling basis, maintaining the company's commitment to service quality. 

FedEx Europe's president, Karen Reddington, said in a statement that the job layoffs would be conducted with maximum support of those affected. Further, she mentioned it would be in close consultation with FedEx Europe's social partners. The reports did not mention the specific dates of the FedEx layoffs; however, they confirmed that nearly 2,000 employees will be affected. Layoffs 2024: British Video Game Holding Company Sumo Group To Lay Off 15% of Its Employees; Check Details.

On April 17, 2024, FedEx reportedly laid off 220 courier persons and eight managers in southwestern Florida. The company also shut down four of its shipment centres. Some employees were reportedly told to relocate, while others remained employed at FedEx.

(The above story first appeared on LatestLY on Jun 13, 2024 07:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).