Press Review

Post profits down

Yesterday I read an article in the online editoin of "austriantimes.at" and it talked about the Post which dropped their profit.

Basically what it said is that the sale went 3.4 per cent back to 1.732 billion Euros. As well the taxes fell nine per cent and the stock from 25 to 17 cents a stock. Post chief Georg Pölzl added that there is too much employees and lots of unprofitable post offices. So for that reason he wanted to fix costs and cut 1012 employees till the end of October 2009.



He said that further reductions will stabilized at 829.8 million euros.

What shocked me most is the fact that he wanted to close down 293 unprofitable post offices. Fortunately the infrastructure ministry forbid to close 144 until 2010 because this wouldn´t be positive for our economy. Furthermore, he pointed out that the negative impact on the post would continue if customers cut back on spending.

In my opinion it would be a shame if he closed 293 post offices. The employees need some time to search for a new job. As well I think he would activate a new post strike with that approach.

Vocable:

Sale (Absatz)
Taxes (Steuern)
Stock (Aktien)
Manpower (die Angestellten)
Reductions (Reduzierungen)
Approach (Vorgangsweise)
cheek (Frechheit)