According to Reuters, this decision is due to a 7% decrease in annual operating profit. CEO Tobias Mayer said that the cuts will affect the Post & Parcel division and will amount to no more than 1% of the total number of employees.
Analysts predict a slowdown in profit growth for logistics companies due to lower demand. DHL shares have fallen by almost 11% over the past year, which is worse than the average performance in the sector.
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Mayer also noted that the new tariffs for postage stamps will not be able to solve the problems with cost inflation. The recent agreement with the Verdi trade union on higher salaries has become another reason for the cuts, which will cost the company 360 million euros.
In 2024, DHL achieved an operating profit of 5.89 billion euros, exceeding analysts' expectations. However, the forecast for 2025 is more than 6 billion euros, which is lower than expectations of 6.29 billion euros.
Yesterday it became known that Walt Disney Co. will cut about 200 jobs in its ABC networks and entertainment TV channels.
