Deutsche Post AG, Europe's biggest mail carrier, will eliminate 14,900 jobs and scrap domestic express deliveries in the US, where the economic slump exacerbated the unit's losses. Deutsche Post will report an unspecified net loss as the DHL Express division spends an additional $1.9 billion reorganizing US operations, Chief Executive Officer Frank Appel said.
The express unit, which hasn't earned a profit in the US in at least five years, will limit operations in the country to international routes, retaining as many as 4,000 employees. An economic decline in the US has “generated considerable need for action,” Appel said at a press conference at the company's Bonn headquarters.
