Deutsche Post makes good progress with restructuring of Express Services
Deutsche Post, the German postal service, says that it has made good progress with the restructuring of its parcel and express services in Germany and Europe. All of the company’s services in this field are to be combined under the umbrella of DHL Express. This is expected to lead to job cuts, as the company believes that it will be able to carry out the same volume of work with fewer staff. DHL currently employs 90,000 staff in Europe. In particular, staff in administrative functions are expected to be affected by the changes.
DHL is also planning to increase its sales return before tax and amortisation to between 4 and 5 per cent within the next two years. This target is not considered to be particularly ambitious, in view of the fact that some of the company’s competitors currently achieve a sales return of around 6 per cent. This year, DHL is expected to increase its turnover by around 5 per cent, to over 13bn euros.
Original article by Axel Granzow
Copyright © from Handelsblatt in German Europe Intelligence Wire – Copyright 2003 Financial Times Information. Source: Financial Times Information Limited.
