BROKE & BROKEN : SA Post Office plans another round of retrenchments to break its money-losing streak

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BROKE & BROKEN : SA Post Office plans another round of retrenchments to break its money-losing streak
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The embattled SA Post Office is set to launch another round of retrenchments because the state-owned enterprise is broke and desperately needs to cut expenses. It doesn’t help that the Post Office has been losing money for 15 consecutive years and that ...

The Post Office plans to lay off more employees as the state-owned postal company has been on a money-losing streak for 15 years and forced to operate without financial support from the government.

Phase one of the retrenchment process saw 668 job cuts in 2021, reducing the workforce from 15,826 to 14,460. . But this number has been disputed by trade unions representing Post Office employees, saying the company plans to lay off as many as 6,000 employees – or 41% of its current workforce. Postal companies around the world are struggling to reinvent their operations for a world in which consumers rely far more on electronic methods of communication than they do on mail. People are also opting for faster, more efficient parcel delivery services run by private sector companies.

National Treasury sees the Post Office operating with a staff count of 10,254 by 2024/25 as the declining nature of its operations requires fewer employees.

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