CTT Portugal

Type
Internal restructuring
Country
Portugal
Region
Continente;
Location of affected unit(s)
Sector
Transportation / Storage
53 - Postal and courier activities
53.1 - Postal activities under universal service obligation
53.1 - Postal activities under universal service obligation
800 jobs
Number of planned job losses
Job loss
Announcement Date
20 December 2017
Employment effect (start)
1 January 2018
Foreseen end date

Description

The post office CTT Portugal has designed recovery strategy that involves the dismissal of 800 workers; closing counters; selling assets; cutting remuneration of management and supply costs; and freezing workers' wages, among other measures.

The redundancies are expected to be implemented over the course of the coming three years, as well as closing 22 counters. The postal service aims to reduce the number fo workers through through terminations by mutual agreement and early retirement. Thus far, 140 workers volunteered to avail themselves of these options and leave the company.

Currently, CTT has a total of 6,800 workers, of which 500 workers with fixed-term contract.

Sources

  • 20 December 2017: Público

Citation

Eurofound (2017), CTT Portugal, Internal restructuring in Portugal, factsheet number 93011, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93011.