Austrian Post Plans Staff Reduction
Oesterreichische Post AG has announced that it will reduce its staff from 27,000 to 23,000 by 2006. The planned job cuts are largely due to the company’s effort to limit its personnel costs to less then 60% of the turnover. Oesterreichische Post AG has laid-off 6,000 employees since 1999 and plans to cut further a 1,000 jobs in 2004. A 36 million Euro social program will be developed for the laid-off workers. The company plans to expand its operations in Eastern Europe in order to compensate the shrinking domestic market.
