TNT to press on with job cuts

Dutch mail and delivery company TNT said on it would press on with the largest job-cutting drive in the company's history, despite attracting the anger of Dutch labour unions, Reuters reported.

Increased competition due to European mail liberalisation and a rise in electronic communications have seen TNT struggle with volumes and delivery prices in its mail unit, for which it is exploring a listing or partnership as solutions.

Europe's second-largest mail and delivery company is looking to axe 6,500-11,000 full-time jobs after negotiating a restructuring deal with unions in January as part of an effort to secure US$565 million savings by 2017.

The company employs about 160,000 people.

"We hope that around 50 percent of the cuts can be made through natural attrition, but there could be forced redundancies and unions knew this," Harry Koorstra, managing director of TNT's mail division said.
(Source:www.cargonewsasia.com)