FedEx to move jobs and Asia-Pacific headquarters from Hong Kong to Singapore
- Company shifting some functions to Singapore but pledges to maintain ‘significant presence’ and leadership roles locally
- Number of global companies with regional headquarters in Hong Kong has fallen 5 per cent since June 2019
FedEx has confirmed it is moving jobs and its regional headquarters from Hong Kong to Singapore, a decision that one influential business chamber said reflected a “changing global environment”.
The shift would involve moving less than 15 per cent of positions originally based in Asia Pacific, the Middle East and Africa to the city state, the American-based package delivery company told the Post on Friday.
FedEx said it was shifting some functions of its headquarters for Asia-Pacific, the Middle East and Africa to Singapore in order to connect operations “with greater speed and agility”.
Its Hong Kong arm would continue to provide support to its operations in the rest of the country, north and south Pacific, India and Africa, the company said, adding it would maintain “significant presence” and leadership roles locally.
According to its website, FedEx has 1,400 employees in Hong Kong, out of more than 35,000 throughout the region.
FedEx has operated in Hong Kong for 39 years and established its Asia-Pacific headquarters in Hong Kong in 1992, and opened a hub in Guangzhou in 2009.
When asked to respond to the news, the American Chamber of Commerce in Hong Kong said it was pleased FedEx, a member since 1986, was maintaining a local presence in Hong Kong.
“AmCham member companies make strategic decisions that serve the best interests of their business and customers in Hong Kong and the region,” a spokeswoman said. “They routinely adjust those decisions based on their priorities in the changing global environment.”