- GXO Logistics Inc GXO entered a partnership to outsource and transform part of BT Group plc's BTGOF supply chain across the U.K. as part of a new, long-term relationship.
- The new partnership with GXO forms part of BT's ongoing strategy to simplify and modernize its business.
- BT will be outsourcing its core warehouse and transport capabilities while ensuring that the Group's next-generation network build plans remain on track.
- For BT supply chain colleagues in the warehouse, transport, and some support roles - around 300 colleagues in total - there will be a proposed transfer to GXO under a Transfer of Undertakings (Protection of Employment) or "TUPE" agreement.
- Price Action: GXO shares closed higher by 1.08% at $84.30 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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