FedEx to cut up to 500 jobs in France while investing €78m

FedEx has announced a strategic realignment of its French domestic business: cutting up to 500 jobs and investing around €78 mn (~$91.58 mn). Measures: reducing the number of stations from 103 to 86, simplifying the distribution network, eliminating unnecessary infrastructure. Despite the job cuts, however, over 770 new full-time and part-time jobs are to be created. Employees who are laid off will receive priority for new positions.