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Post Office busines rescue plan approved

JOHANNESBURG - A business rescue plan for a restructured Post Office has been approved.

 

The struggling entity was placed into business rescue by the High Court in July.

 

The two-phase plan will stretch over a two- to five-year period.

 

 

It will involve stabilising the business and retrenching 6,000 of the Post Office's 11,000 employees.

 

More than 400 loss-making branches will be closed.

 

 

A focus will also be on improving service delivery and increasing fleet to deliver letters and parcels within a reasonable time frame.

 

The second phase of the plan will involve providing hybrid mail extensions, and new motor licence-disc solutions.

 

 

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