Jean-Paul Bailly, chairman of the French post office, La Poste, said that it is impossible for his organisation to reveal the number of jobs which it plans to cut, given that the issue has yet to be discussed with staff and local political figures. La Poste’s unions, on the other hand, claim that it could shed 60,000 posts by 2012 if it refills only half of those vacated between now and then.
Read MoreLa Poste, the French national postal services group, has posted a sixfold increase in net profit for 2003, to 202m euros. However, as chairman Jean-Paul Bailly pointed out, the group is still only moderately profitable and lags behind its main European counterparts. Turnover increased by 3.4 per cent last year, to 18bn euros, but fell short of expectations.
Read MoreJean-Marc Pailhol has been appointed commercial director of the financial clients’ division of the French post office, La Poste. Mr Pailhol was formerly head of the individual clients’ branch of the French co-operative banking group Banques Populaires.
Read MorePatrick Werner, managing director for financial activities at La Poste, the French national postal services group, has said that he intends to submit plans for expansion in financial services, including the creation of a postal bank, to banking regulator CECEI in the second half of September this year. Mr Werner said he expected a response by the end of the year and that the bank would be created early in 2005.
Read MoreLa Poste, will reportedly announce a sixfold increase in profit for 2003, to 202m euros, from 34m in 2002. Despite these positive figures, the parent company would reportedly have made a loss in the period in question, had it not received 200m as a result of the increase in the price of postage stamps, which came into effect on 1 June 2003. In addition, the public company registered an operating margin of -0.6 per cent, compared with 5 per cent and 6 per cent respectively for counterparts Deutsche Bank of Germany and TPG of the Netherlands.
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