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style=”font-size: 9pt; font-family: Arial; color: black; font-weight: normal;”>The company’scurrent services at 1,850 shops will remain unchanged, providing customers in the future 2,600points at which to transact postal business.
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style=”font-size: 9pt; font-family: Arial; color: black; font-weight: normal;”>TNT Post also stateda joint intention with Postbank to transfer their services from 250 main post offices to existingand new locations in their own networks by the end of 2012. This will involve discontinuing theirpartnership in Postkantoren BV, a 50/50 joint venture of TNT Post and Postbank, but continuing towork together at 550 of the 2,600 locations in shops.
TNT Post estimatesthat in 2008 the restructuring costs of discontinuing the existing joint venture in Postkantoren BVto be around EUR 70 million before taxes. Furthermore the company expects to achieve the expansionand modification of its retail network from 2009 through to 2012 with a slightly cash positivebalance. From 2013, the full implementation of these plans is expected to contribute a structuralannual operational cost saving of EUR 45 million compared to 2007. From these cost savings, anamount of EUR 25 million comes on top of the earlier communicated savings target for master plansof EUR 370 million in the period 2007 – 2015. As a result the target is increased to EUR 395million euro.
TNT Post and Postbankwill provide the financial resources necessary for Postkantoren BV to offer a social plan aimed atguiding all employees into new jobs and avoiding forced redundancies as much as possible.
