FedEx Layoffs 2024: What to Know About the Latest FDX Job Cuts

Group 1 - FedEx plans to cut between 1,700 and 2,000 jobs in Europe, primarily focusing on back-office positions [1] - The layoffs are expected to save the company between $125 million and$175 million annually starting in fiscal 2027 [1] - FedEx anticipates incurring expenses of $250 million to$375 million related to these headcount reductions as part of a broader strategy to cut $4 billion in operating costs by the end of 2025 [1] Group 2 - The layoffs at FedEx are part of a trend among companies reducing jobs due to falling demand following the pandemic [2] - The increase in demand for delivery services during the pandemic has decreased as lockdowns have ended, leading to a decline in e-commerce orders [2] - FedEx's stock has seen a slight increase as of Wednesday morning, indicating some investor confidence despite the layoffs [2]