The Mexican Postal Service (Sepomex) and Mexico Telegraph (Telecom) over the next two years will be profoundly restructured, reported Mexico City daily Reforma. Costs will be reduced, the government subsidy will be eliminated, and the workforce will be reduced by 25 percent, with the goal of making the companies’ financially independent before 2005.
Read MorePOST Office operator Consignia could face a pension fund shortfall of £800m if it presses ahead with plans to cut 30,000 jobs, it has been claimed.
The company, currently losing more than £1m per day, may have to pump a further £600m into its funds this year to make up a financial black hole. The claims, which have been dismissed as “alarmist” by Consignia, are detailed in a 50-page document by accountant Arthur Andersen.
An Post is in advanced negotiations to buy a British maker of machines which recharge pre-paid mobile phones with credit, it is understood.
The State-owned postal company, which is seeking to cut its staff by 1,140, is believed to be preparing to pay EUR6.49-EUR8.11 million ((pounds) 5.11-(pounds) 6.38 million) for e.Commercell. Discussions with e.Commercell’s owner, Caudwell Group, are expected to conclude soon.
GEMA, the French association of mutual insurance companies, yesterday joined in with the ferocious opposition expressed by the FFSA, another association of insurance companies, to the supposed intention of French post office La Poste to sell car and home-contents insurance.
Read MoreFebruary 12, 2002 Feb 12, 2002 La Poste has now completed the deal to acquire Delta Diffusion through its subsidiary Mediapost. In consideration the vendor company Comareg has taken 33 per cent of Mediapost.
This is the completion of a deal announced in May last year
Read MoreThe German association of wholesale and export traders (BGA) on Tuesday said it is taking action against postal services group Deutsche Post to contest the rates it charges in monopoly areas. It said it is demanding repayments totaling 21,000 euros.
The case could compel German regulators to lower the minimum letter price or prompt similar complaints from numerous other industry groups. A ruling is expected within six months, though a subsequent appeal by either side is possible.
A EUR35 million (GBP 44 million) investment programme to modernise rural post offices over three years by developing them as technology centres for the community has been outlined by Muintir na Tire. The voluntary organisation said post offices could be made more economically viable by the introduction of new technology, including ATMs and internet access and by providing a one-stop shop for Government services.
Read MorePACKAGE DELIVERY GROUP COULD BEAT EXPECTATIONS AS COST-CUTTING PAYS OFF AT ITS CORE AIR EXPRESS DIVISION
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