An Post is to sell off parts of its business and some of its properties in a bid to ease its poor financial situation, according to chief executive Donal Curtin.
He told an Oireachtas committee that last year they made a loss of €29.5m , instead of the expected profit of €1m. This year they expect a loss of €16.3m.
Last year, Curtin said An Post had less than two years to address its cost problems and warned that the business would no longer be sustainable if major reforms were not implemented.
He said today he hoped major work changes, including the 1,500 staff reductions planned, could be introduced by agreement with the trade unions
