Bulgarian Postal Carrier To Cut 1,000 Jobs by End-2012

Bulgarian Postal Carrier To Cut 1,000 Jobs by End-2012

Incumbent postal carrier Bulgarian Post will ask nearly 1,000 employees to leave voluntarily the company by the end of this year as a large part of them will go into retirement.

The workers who quit voluntarily will be granted between eight and ten monthly salaries as a severance package, state-run Bulgarian News Agency (BTA) quoted on Thursday the country's transport minister Ivailo Moskovski as saying.

The postal carrier currently has around 13,000 staff on its payroll, according to local media.

Moskovski stated that the government has created a three-year medium-term plan to get the state-owned company back on its feet.

"For 2011, Bulgarian Posts will show an operating loss of some 8.0-9.0 million levs [$5.2-5.9 million/4.1-4.6 million euro]," BTA cited Moskovski as saying.

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