TNT ups costs savings target to 395 mln euros

Dutch mail company TNT NV increased its costs savings target to 395 million euros (USD 600.9 million) due to changes in its retail network, the firm said on Wednesday.

TNT, which had originally aimed for savings of 370 million euros between 2007-2015, said it will save an extra 25 million euros from ending its joint venture with Postbank.

It estimated restructuring costs related to this move at about 70 million euros before taxes.

Dutch mail company TNT NV increased its costs savings target to 395 million euros (USD 600.9 million) due to changes in its retail network, the firm said on Wednesday.

TNT, which had originally aimed for savings of 370 million euros between 2007-2015, said it will save an extra 25 million euros from ending its joint venture with Postbank.

It estimated restructuring costs related to this move at about 70 million euros before taxes.