Irish An Post reports losses of EUR43m

An Post has unveiled losses of just under EUR43m for last year at the launch of the company’s annual report.

It is the highest operating loss since the postal service was established as a state-owned company in 1984.

It has also anticipated that losses for this year will be massive.

The evidence for urgent change is stark and An Post management has said that key changes in work practices and price increases will have to be implemented.

Staff reductions are also on the cards.

In the words of An Post chief executive Donal Curtain today: “The company is on a financial knife-edge and serious financial changes will have to put in place. Without these An Post may not survive.”