Postfinance plans fewer redundancies

Postfinance announces fewer redundancies than planned Keystone-SDA

Postfinance, the financial arm of the Swiss post office, will shed fewer jobs than originally announced as part of a reorganisation.

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Up to 130 jobs will be cut by the end of November – 11 fewer redundancies than planned.

The consultation process on the reduction has been completed, the company and the Syndicom trade union announced on Thursday.

Following criticism from Syndicom and an extended consultation period, proposals from the workforce and the union were accepted. In addition to reducing the number of redundancies, these also include improvements such as an early retirement offer, adjustments to team reorganisations and greater mentoring.

Postfinance had originally announced that it would be making up to 141 redundancies and 73 changes to employment contracts. The job cuts mainly affect central administrative functions in Bern.

According to its own statements, Postfinance is under pressure due to uncertainty among investors and the changed interest rate environment, among other things.

The financial institution therefore wants to improve profitability. The trade union rejects the job cuts and criticised the fact that Postfinance, as a profitable division of Swiss Post, is cutting staff unnecessarily.

Translated from German by DeepL/mga

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