A study carried out by the AT Kearney consultancy on behalf of the French government has found that plans by the French post office (La Poste) to enter the property finance, non-life insurance and consumer credit sectors would result in competition for the mutual sector above all.
Read MoreAlready a 49% shareholder of the Interholding company, in July 2003 Chronopost International purchased the remaining 51% previously owned by the company Saturne SA. Interholding is made up of the companies Top Chrono – Saturne Courses (a company providing urban delivery on request, leaders in urban delivery in the Parisian region), TZF (specialists in regular delivery rounds) and TC Formation (Top Chrono training establishment). The total acquisition of Interholding’s activities allows the Chronopost International group to strengthen its professional synergy and to consolidate its portfolio of express services provided by the different trade names:
– Urban delivery: Top Chrono and TZF
– National and international same-day delivery: Taxicolis
– National and international express delivery: Chronopost International
TAT Express, the French post office’s B2B express parcels arm, is poised to axe almost 500 jobs out of a total workforce of around 1,800.
This is the second major shake-out to be announced in the past month in France’s parcel sector, following news that ABX’s French unit is to shed 500 staff (out of 4,500) as part of a EUR40m cost-cutting programme.
Weakened by an acquisition strategy undertaken three years ago, ABX France posted an operating loss of EUR20m in 2002 on a turnover of EUR618m, 21% of ABX’s global turnover.
Read MoreMessagerie-express company information & figures (in French) for La Poste / ColiPoste / Chronopost International / Taxicolis / TAT Express / Geodis / DHL France / Mory Team / TNT Express / ABX Logistics / France Express / Graveleau / Gefco / Schenker / GLS / Extand / Sernam / UPS / Exapaq / Heppner / Hays DX / XP France / Alloin / CAT France /
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The French union organisation FO has confirmed that TAT Express, an airmail subsidiary of French national postal services group La Poste, will present plans to cut 500 jobs on September 1 during an extraordinary meeting of the works council. These jobs represent one third of the total workforce. The union says several hundred straight redundancies could take place, and has expressed concern that the plan will jeopardise the company’s survival.
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