TNT focussing on Europe

Dutch delivery group TNT Express will cut 4,000 jobs over the next three years. The cuts, which represent roughly six per cent of the workforce, are aimed at creating cost efficiencies of 220 million euros by 2015. TNT was the target of a failed seven billion dollar takeover bid by United Parcel Service.

TNT Express plans to sell its operations in China and Brazil in 2013 in a shift of focus to European business. The new strategy, which would include completion of both disposals as early as this year, is targeted at coping with “challenging trading conditions and continuing price pressure” and seeks to encourage growth in the most profitable markets, the Netherlands-based delivery company said.

(04|2013) Source: Washingtonpost