FedEx Bought This Air Freight Carrier for $4 Billion; Now It's Laying Off More Than 6,000 Workers

[cheryl]

FedEx Bought This Air Freight Carrier for $4 Billion; Now It's Laying Off More Than 6,000 Workers - Motley Fool

FedEx said on Monday that it will cut up to 6,300 jobs in Europe as the final step of integrating acquisition target TNT Express into the transport giant's global delivery network.

The company bought TNT Express in 2016 for $4.4 billion, beating out rival United Parcel Service for its European operations. The deal has failed to live up to expectations, with FedEx twice replacing the executive leading the integration efforts and the company taking multiple charges due to weak European sales.

 

[IVE GOTTA PACKAGE 4U]

FedEx Bought This Air Freight Carrier for $4 Billion; Now It's Laying Off More Than 6,000 Workers - Motley Fool

FedEx said on Monday that it will cut up to 6,300 jobs in Europe as the final step of integrating acquisition target TNT Express into the transport giant's global delivery network.

The company bought TNT Express in 2016 for $4.4 billion, beating out rival United Parcel Service for its European operations. The deal has failed to live up to expectations, with FedEx twice replacing the executive leading the integration efforts and the company taking multiple charges due to weak European sales.

It's nice how FedEx got to buy TNT for a lower bid then UPS...

 

[Fred's Myth]

It's nice how FedEx got to buy TNT for a lower bid then UPS...

But hey, UPS has the Amazon account, amirite?

 

[IVE GOTTA PACKAGE 4U]

But hey, UPS has the Amazon account, amirite?

Probably not for too much longer