TNT Post in The Netherlands is cutting around 7,000 jobs and is freezing employee wages until the middle of 2009. It also said that involuntary redundancies were likely.
The postal company said that it was working to safeguard its success in the longer term in a market that is experiencing declining volumes and increasing competition.
It said it was hoping to avoid large scale forced redundancies by “complementing its operational efficiency measures with changes to employment conditions,” but said it was not confident that reducing costs alone would be enough.
