Dutch express delivery company TNT Express is forced to take drastic measures to cut costs and remain profitable. In particular, about 4,000 people will be laid off.
The crisis situation in Europe has led to TNT Express going through not the best of times. There has been a significant reduction in orders - in order to save money, yesterday's customers prefer more economical, albeit much slower, delivery methods. As a result, TNT is finding it increasingly difficult to compete with FedEx and UPS. The latter, by the way, previously intended take over a Dutch competitor, but as a result the deal was terminated.
And to prevent this from happening, TNT management is now engaged in a serious restructuring. So, in addition to the layoffs mentioned above (more than a third of them will occur in Europe), it was decided to sell the company's assets in China and Brazil. It is expected that such measures will save about 220 million euros.