Deutsche Post, the German postal service operator, intends to cut around 10,000 jobs in Germany every year, but has no plans to extend working hours or to reduce personnel costs further. Management also revealed yesterday that it had reached an agreement with trade unions, as part of which it had committed itself not to make any staff redundant until March 2008.
Read MoreDeutsche Bank may have opened itself up to a possible conflict of interest with its recent plans to buy Postbank while it was also lead-managing the bank’s stock market flotation, the head of the German financial sector watchdog BaFin said Tuesday.
Germany’s biggest bank, which had been asked by the German government to examine the possbility of buying Postbank outright, may have opened itself up to “a conflict of interests as defined by the German stock trading law,” BaFin chief Jochen Sanio said in interview with the financial daily Boersen-Zeitung.
Read MoreThe German government has no final date yet for when it will completely privatise Deutsche Telekom AG and Deutsche Post World Net AG, Finance Minister Hans Eichel said in an interview with AFX News partner dpa-AFX.
Eichel said the government’s basic goal is still to dispose of all its shares in the two companies. ‘Disposing of all the shares need not necessarily take place in 2004 or 2005,’ he said. ‘The market conditions will determine the right time.’
Read MoreDeutsche Post AG is to further reduce its night air mail network in stages from the start of the summer air schedule in March 2005. This will lead to a considerable reduction in night aircraft movements, particularly at Frankfurt am Main airport. Dr. Klaus Zumwinkel, Chairman of the Board of Management at Deutsche Post World Net, explained the planned changes in talks with the Minister-President of Hesse, Roland Koch. Minister-President Koch was pleased about the planned reduction of night flights and unequivocally welcomed Deutsche Posts plans. He said that they were the successful result of the regional governments efforts to reduce noise nuisance at night even before the expansion of the airport.
Read MoreDHL Express and Nestlé Deutschland have expanded their partnership with a framework agreement for domestic parcel distribution. Nestlé ships around 500,00 parcels and 6,000 express items annually. “As of now, we pick up the parcels from 22 Nestlé and Nestlé-partner locations,” explains Heike Kaufmann, account manager at DHL Express. DHL picks up the shipments from Nestlé and its subsidiaries – Nestlé’s third-party service providers are also incorporated into the framework agreement, sending their goods via DHL.
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