TPG NV said it plans to cut 5,000 postal delivery jobs over the next five to eight years due to an expected decline in mail volumes.
The Dutch postal and logistics company emphasized that the cuts will not be forced, but will come through natural attrition. TPG employs around 30,000 full- and part-time postal delivery workers.
The move is expected to save about EUR300 million ($267 million) a year after the reductions, Dow Jones Newswires reported. TPG expects alternative mail delivery to cut mail volumes by around 20% over the next five to eight years.
