Czech Post to make fewer layoffs than announced last week

Czech Post is set to make 950 people redundant by the middle of this year in connection with the closure of 300 branches around the country. Five hundred more jobs will go in the postal service’s logistics network, the organisation’s head, Miroslav Štěpán, said on Monday.

When the company first announced the branch closures last week it said it would shed 2,300 jobs.

Czech Post aims to save around CZK 700 million a year by shutting branches. The move should help it avoid insolvency this year; it has been in danger of seeing last year’s losses of CZK 1.75 billion rise to CZK 4 billion in 2023, the Czech News Agency said.