New Delhi, Jan. 23 -- US parcel delivery firm FedEx announced on Friday a strategic restructuring of its French domestic operations, a move that involves reducing up to 500 jobs alongside a capital investment of approximately 78 million euros ($91.58 million).

The logistics giant aims to streamline its internal framework by reducing its station network from 103 to 86. This consolidation is designed to simplify the company's distribution system and remove redundant infrastructure within the country.

"The French courier and express transportation market is dominated by a highly competitive and cost-pressurised domestic parcels sector," the US parcel delivery firm said.

While job cuts are part of the plan, the reorganisation is also expec...