France’s La Poste to cut 2,800 jobs in financial operations
The French postal service will cut 2,800 jobs out of 17,300 in its financial operations between 2004 and 2007 in a bid to boost profits, according to a report in La Tribune.
The cuts will be achieved through natural wastage, the paper said, citing an internal document received by unions.
La Poste was not immediately available to comment on the report, though La Tribune cited the documents as saying the cuts were necessary due to the ‘inadequate profitability’ of the operations.
Another internal document from the company highlighted a productivity gap of 30 pct between its own financial activities and those of its banking peers.
La Poste has already announced 733 job cuts for 2004.
