Mail volume almost halved in Latvia
Latvian Post announced this week that mail volume in Latvia had fallen by 41% and parcels by 20% and that the company’s board has decided to introduce urgent measures to reduce operating costs. The savings will be implemented in phases, the first step being taken immediately – a revised salary for the company’s employees based on far more than performance only.
“The decision to change the way employees are paid is essential if we are to stabilise the company and save jobs in Riga and outside it.” said its Chairman.
Annual financial results 2008 showed that the VAS Latvijas Pasts net turnover was 48.46 million lats, which is about 2.82 million lats or 6.2% more than in 2007. Losses during the last year were 3.66 million lats, which is about 10.42 million lats less than in 2007.
