Deutsche Post reaches deal with union to merge domestic parcel and mail operations
German postal service provider Deutsche Post AG said Tuesday it reached a deal with its main union to merge its domestic mail and parcel delivery operations.
The company will transfer its package and parcel business from its express unit to its mail corporate division, putting oversight for both under one board member. Pending board approval, the transfer could be complete by next month.
The company said the move will let it improve service for its German customers, including package tracking and better delivery times, and add Euro2.6 billion (USD3.4 billion) to the division’s revenue, bringing it to about Euro15.5 billion (USD20.5 billion) annually.
Shares of Bonn-based Deutsche Post fell 0.1 percent to Euro32.21 (USD42.66) in Frankfurt.
