FedEx's takeover of TNT has been completed. The billion-dollar takeover was officially clinched this week. According to FedEx chief David Bronczek, this does not mean that TNT employees will be laid off en masse. In fact, FedEx would like to avoid large rounds of redundancies.
To the Volkskrant, FedEx says most employees will be able to keep their jobs after the takeover. "The overlap between the two companies is not large," Bronczek told the newspaper. "TNT employees will have more opportunities as a result of the takeover, not less." The top executive cannot guarantee that all employees will keep their jobs. TNT has 56 thousand employees, two thousand of them in the Netherlands. "I can promise, however, that we will not rush things. We are a people company."
Second largest courier company
The purchase of the courier company was initiated last year. FedEx eventually paid €4.4 billion for the TNT. As a result of the takeover, FedEx has around 400 thousand employees, 130 thousand trucks and 657 aircraft, the Volkskrant writes. It is estimated that this will make FedEx the second courier company in Europe. Germany's DHL remains market leader and UPS drops to third place as a result of the takeover. FedEx's headquarters will move from Brussels to Hoofddorp, where TNT is currently located.
TNT disappears from the streets
TNT will remain as a brand for now, but will disappear from the streets in a few years, Bronczek expects. "Forming one company as soon as possible is better for employees and customers. As a global player, you can offer customers the best service and prices. And that's what it's all about."
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