In an emailed statement, FedEx said it will consolidate some Asia Pacific, Middle East and Africa headquarters functions in Singapore “to connect all of our operations in this region with greater speed and agility.” The company said it will retain a “significant” presence and leadership roles in Hong Kong. The courier has 35,000 workers in the region and provides service to more than 100 countries, FedEx said.
The US company will still keep an office in Hong Kong along with most Hong Kong business-related staff, and it’s also considering moving some non-essential roles to Malaysia or India to cut costs, one person said. The move may fuel concern that multinational companies’ confidence in Hong Kong is waning, particularly after years of political turmoil and Covid restrictions.
Source: News Formal (newsformal.com)
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