Swiss Post Office cuts

The Swiss Post Office says it is considering additional cost-cutting measures in a bid to remain competitive and avoid a massive deficit in the next few years.
The Post Office wants to renegotiate working conditions and salaries for its employees, spin off its express delivery service and merge the parcel division with its logistics unit.
Management said more jobs would have to go at the postal service, in addition to the 800 already set to be lost by 2008.
The Post Office estimates the deficit could reach SFr600 million ($436 million).
Trade unions have rejected the plans, saying they would lead to another 3,500 jobs being axed.

swissinfo