PostNL to reorganize after investors process quarterly figures, up to 300 jobs could be cut

Right at the start of the trading week on Monday, investors will be confronted with PostNL's quarterly results. These are the first figures after the postal company reported a decline in revenue and profit last year. In February, PostNL also announced plans to cut up to 300 jobs, in particular management and support positions in its parcels division.

PostNL set aside 20 million euros for the reorganization. The company also planned to take other cost-cutting measures. In addition, investors will be paying attention to how the company has coped with high inflation. As a result, consumers seem to be keeping their hands on their wallets. PostNL CEO Herna Verhagen previously said she expects the difficult market conditions to continue for a while.

Furthermore, a small loss of market share due to an expected slight decline in volume was also considered. However, it is not ideal for PostNL that competitor DHL will start charging lower prices for shipping slightly heavier envelopes in the second quarter of 2023. Sending an envelope weighing up to 500 grams to a DHL service point will then cost a consumer 2,95 euros. By comparison, it costs more than 4 euros to send a letter up to 350 grams at PostNL.

With the cuts, PostNL hopes to finally get back on top and expects to save 25 million euros by 2024 and 30 million euros annually from 2025. The postal company also predicted earlier this year that online shopping would pick up, although the number of parcels sent was down. During the coronavirus crisis, PostNL benefited from the fact that consumers were making more online purchases, which resulted in more parcels being processed.