Compared to March 2012, the postal operator lowered management staff numbers by 55%, to 173, and janitorial staff by 16%, to 1,771. The total number of the company’s employees was cut by more than 16%, to 27,305.
“In May 2012, when the new management team took over, the post office was on the brink of insolvency, with losses of over RON480 million, amassed in 2009-2011. The post office’s revenues the month prior to the change in management, April 2012, stood at RON99.3 million, while expenses stood at RON109.2 million, resulting in a loss of RON9.9 million. Two years later, in March 2014, Posta Romana’s revenues reached RON97.5 million, while expenses totaled RON89.5 million, resulting in a profit of RON8 million,” the company said in a press release Tuesday.
In October 2013 – March 2014, the company’s operating profit amounts to RON37.3 million.
Salary expenses have remained constant at 70% of total expenses. Employees have seniority bonuses of 5 – 25%, loyalty bonuses of 3 – 18%, the company added.
Posta Romana is owned 75% by the Romanian state and 25% by investment fund Fondul Proprietatea. It is set to be privatized this year. The government tried to privatize the postal operator in the first part of 2013 but there were no interested investors.
At the end of 2012, Posta had debts of RON568.2 million. In 2008-2012, it amassed losses of RON530 million.
Posta Romana ended 2013 with an exploitation activity loss of RON27.62 million, more than nine times higher than estimated in its budget, which forecast a loss of RON2.99 million.
According to preliminary data, Posta Romana had revenues of RON1.166 billion and expenses of RON1.193 billion last year.
Earlier Tuesday, the postal workers union SLPR announced it will organize four days of protests countrywide seeking the dismissal of the management and a 20% raise for employees.