FedEx to cut 500 jobs in France amid $91M restructuring
What's the story
FedEx has announced a major restructuring of its operations in France. The move includes cutting up to 500 jobs and investing up to €78 million ($91.58 million) into the overhaul. The company plans to reduce its station network from 103 stations down to 86, simplifying its distribution system and eliminating redundant infrastructure within the country.
Job creation
New roles to be created amid job cuts
Despite the job cuts, FedEx's reorganization is also expected to create over 770 new full and part-time operations jobs. The company has said that employees affected by the layoffs will be given priority for these new positions. This move is part of its strategy to streamline operations while also providing opportunities for those impacted by the restructuring.
Information
FedEx's international operations remain unchanged
FedEx has clarified that the changes in its domestic operations will not affect its international air transport network. The company will now begin a formal consultation process with employee representatives, as per French labor law.