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Slovenská Pošta cuts losses by 70 percent but still loses €2.7 million

State-owned postal services provider Slovenská Pošta (Slovak Post) reduced its losses from a forecast €8.6 million in 2012 to €2.7 million, Slovenská Pošta spokesperson Stanislava Pondelová announced on Thursday, March 21. The company reported a loss of €9.1 million in 2011.

State-owned postal services provider Slovenská Pošta (Slovak Post) reduced its losses from a forecast €8.6 million in 2012 to €2.7 million, Slovenská Pošta spokesperson Stanislava Pondelová announced on Thursday, March 21. The company reported a loss of €9.1 million in 2011.

"Despite the unfavourable economic situation, Slovenská Pošta carried out some key steps aimed at stabilising the company and putting a stop to the negative economic trend," Pondelová said, as quoted by the TASR newswire. According to her, the new management of Slovenská Pošta has also halted scheduled layoffs that were due to affect around 3,000 employees over the next three years.

Among the steps aimed at improving the results of the state-run company were a reduction in operating costs and an increase in revenues through the launch of new products. The company said it aims to break even without taking on any loans, and maintain current employment levels.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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