The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Transportation / Storage Warehousing And Support Activities For Transportation, Postal And Courier Activities Postal And Courier Activities 53.1 - Postal activities under universal service obligation
800 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93011.
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