Jan 23 (Reuters) – FedEx said on Friday that it planned to cut up to 500 jobs and invest as much as 78 million euros ($91.58 million) as part of a major overhaul to its domestic operations in the country.
The company said it would reduce its station footprint from 103 to 86 stations, simplify its network and eliminate overlapping infrastructure.
“The French courier and express transportation market is dominated by a highly competitive and cost-pressurised domestic parcels sector,” the U.S. parcel delivery firm said.
The overhaul could create more than 770 new full- and part-time operations jobs, with affected employees given priority for the roles, it added.
FedEx said that there were no proposed changes to its international air network as part of the program and that it would launch a formal consultation process with employee representatives in line with French labour law.
($1 = 0.8517 euros)
(Reporting by Nathan Gomes in Bengaluru; Editing by Nivedita Bhattacharjee)
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