PostNL announces more savings but no more job cuts

post lettersPostal company PostNL on Tuesday announced it will be introducing more savings in order to offset the fall in the volume of letter post.

However, the number of jobs to be scrapped over the next two years will not exceed the 2,700 to 3,500 already announced.

The company did not say what the effect for staff will be from 2018 onwards.

PostNL aims to make savings of €345m between now and 2020, €200m more than originally planned.

However, the company says it is expecting the fall in letter volume to decrease in the near future. Until 2017, the drop is expected to be between 7% and 9%, but for the three following years the drop should be between 5% and 7%.

PostNL, which on Monday announced Q3 turnover had fallen 1% and operating profit was down 25%,  says it wants to resume paying a dividend to shareholders ‘as soon as possible’.

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