australia post slashes jobs as letter losses soar
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Australia Post slashes jobs as letter losses soar

Arab Today, arab today

Arab Today, arab today Australia Post slashes jobs as letter losses soar

Australia Post
Sydney - AFP

Australia Post was Friday expected to axe hundreds of jobs as it struggles with growing losses from a decline in letter volumes despite growth in its parcels business.

The firm has forecast losses of almost Aus$500 million (US$385.5 million) in its mail service business this financial year as ordinary mail volumes fell by more than 10 percent -- the largest-ever annual decline.

The sharp drop would take the overall losses in the past five years to more than Aus$1.5 billion, with Australia Post set to record its first full-year loss in more than three decades, chief executive Ahmed Fahour said.

"We have reached the tipping point that we have been warning about where, without reform, the business becomes unsustainable," he said in a statement.

Fahour said Australia Post would introduce a voluntary redundancy programme and retrain and redeploy staff across the business. Some 1,900 jobs were expected to be lost at the government-owned firm, media said.

The "dramatic shift in consumer behaviour" resulting in plunging mail volumes meant there would be fewer jobs needed across the country's mail service.

He added that most of the job cuts were expected to be in metropolitan areas, but the Communications Workers Union said it was concerned regional staff and services would be hit hard.

"We've got grave concerns that a number of these jobs earmarked are in regional Australia -- areas that can't afford to lose quality jobs," the union's assistant national secretary Martin O'Nea told AFP.

"We believe Australia Post should be doing more to work with the mailing industry as a whole to promote the traditional mail service instead of the CEO being out there talking it down all the time."

Communications Minister Malcolm Turnbull said in March the organisation would introduce a two-speed mail service, while Australia Post has flagged the possibility of higher stamp prices.

Australia Post in February reported a 56 percent fall in first-half net profit to Aus$98 million.

The postal service is the country's oldest, continuously operating organisation and celebrated its 200th anniversary in 2009.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australia post slashes jobs as letter losses soar australia post slashes jobs as letter losses soar

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australia post slashes jobs as letter losses soar australia post slashes jobs as letter losses soar

 



GMT 15:12 2018 Thursday ,25 October

President Abdul-Fatah Al-Sisi Arrives in to Khartoum

GMT 22:40 2014 Monday ,08 September

Home Depot: Payment systems hack confirmed

GMT 14:44 2017 Wednesday ,27 December

Support slides for Merkel serving full term as coalition

GMT 03:18 2017 Tuesday ,24 October

Serbian president lauds CPC's unique model of success

GMT 10:14 2016 Thursday ,24 November

India's rupee nears record low

GMT 21:09 2017 Monday ,13 February

Macron seen winning French presidential vote

GMT 09:58 2016 Wednesday ,21 December

Huge solar plant beams power, hope to rural Uganda

GMT 19:31 2017 Tuesday ,11 April

IS group loses most territories it held in Iraq

GMT 04:42 2016 Friday ,07 October

Rosberg wary of Hamilton backlash
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday