The US-based FedEx has announced it will cut its workforce by more than 10,500 to boost its competitiveness and boost profitability.
The company said in a statement on Thursday that the new measures will bring FedEx’s global logistics capacity up to 70% of its current level of capacity.
The move is a further blow to UK Prime Minister Boris Johnson’s administration as it seeks to shed more than 20,000 people from the workforce by the end of this year.
Mr Johnson’s Conservative government has cut the UK’s workforce by 16,000 since the Brexit vote last year, and it is now looking to cut further by 20,500.
A spokesperson for FedEx told Business Insider: “FedEx has been a world leader in logistics for more than a century, and we are committed to delivering on our vision to deliver an even more competitive and efficient logistics industry in the UK.”
The UK’s national carrier has already cut the number of people it employs in recent years, with the number being cut by about 3,000 in the first half of 2017.
We have a network of more than 2,000 stores across the world, with more than half of our retail stores in the US. “
Fedex has a global footprint that spans nearly 30 countries.
The company is looking to reduce its workforce to its current 70% capacity, meaning it will be losing around 20,900 jobs by the time the cuts are complete. “
We will be making the hard choices and making the tough decisions to deliver on our growth plans and deliver on the customer’s expectations.”
The company is looking to reduce its workforce to its current 70% capacity, meaning it will be losing around 20,900 jobs by the time the cuts are complete.
Mr Trump, who has promised to reduce US government and corporate tax rates, has also previously criticised the US company for cutting its workforce.
The US president said last month: “They’re cutting jobs and laying off people.
They’re cutting down the manufacturing base.”
US President Donald Trump has also said he would be open to the US leaving the European Union (EU) if he gets elected.
He has also suggested he could renegotiate the US trade deals with countries like the EU.
The UK is not part of the European Economic Area (EEA), which is a trade bloc of 27 member states that includes the UK.
Mr Farage’s party has previously called for a ‘Brexit without Britain’ to avoid the “fatal consequences” of leaving the bloc.
In May, Mr Johnson said he was “absolutely committed” to retaining the UK in the EU, but warned: “I don’t want to get into the EU’s politics.”
So we’ll have to get a better deal for our people.”