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Memphis-based FedEx to cut up to 6,300 jobs in Europe over next 18 months

FedEx says it plans to cut up to 6,300 jobs in Europe after its acquisition of TNT Express.
Credit: AP
A FedEx aircraft takes off past the tail of another parked on the tarmac of Miami International Airport, Monday, July 27, 2020, in Miami. (AP Photo/Wilfredo Lee)

MEMPHIS, Tenn. — FedEx says it plans to cut up to 6,300 jobs in Europe after its acquisition of TNT Express.

FedEx said Tuesday that the cuts will take place over 18 months and include express-delivery operations and back-office employees of TNT across the continent. 

FedEx says severance payments will cost between $300 million and $575 million through 2023, but that job cuts will save it between $275 million and $350 million a year beginning in 2024. 

FedEx bought Netherlands-based TNT back in 2016, but the deal has suffered many hiccups including a cyberattack that cost $300 million to fix.

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