LibanPost Will Lay Off 1,000 Employees

Lebanon’s national LibanPost company has decided to dismiss about 1,000 employees by the end of July, the official NNA news agency reported on Friday.” The article states, “LibanPost, a joint venture launched by the Lebanese government and a Canadian company, won a 12-year build-operate-transfer (BOT) contract in 1998 to provide Lebanon with a mail system.” Xinhua: [T]he government terminated the BOT contract in May due to an estimated loss of 12 million dollars by the company since 1998. LibanPost, which fell short of its revenue targets last year, blamed the government for allowing private courier companies to compete with it. But the government attributed the company’s poor performances to its overspending in the initial phase.” LibanPost’s Director General Francois Depelteau said that if someone buys off the Canadian company’s share accounting for 67 percent of the total, the dismissal order will be cancelled

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