Arcandor woes cost jobs at Deutsche Post
The impact of retailer Arcandor’s insolvency began to spread across the German economy, reports Reuters.
Deutsche Post announced plans to cut 560 jobs from its logistics business. Reduced mailing volume for Arcandor goods meant jobs had to go at Deutsche Post’s DHL express delivery arm, a Post spokesman said.
A spokesman for Arcandor insolvency administrator Klaus Hubert Goerg said the office had agreed in principle on new terms with DHL. The previous terms “had developed in such a way that it was no longer possible to conduct business profitably”.
Insolvency proceedings opened this week for Arcandor, which went bust when its request for state aid was rejected.
