CPO says organisation focused on 'being commercially sustainable'
The New Zealand Post is once again offering employees voluntary redundancy or reduced hours with a pay cut in a bid to stay "commercially sustainable," according to reports.
The NZ Post has reopened the options to its manager and specialist functions, after previously offering them back in September 2024, Stuff reported.
"This process is currently under way, and we are not in a position to share any further details," said Monica Ayers, chief people officer at New Zealand Post, as quoted by Stuff. "Supporting our people continues to be our main focus."
The reopened offer comes during the company's continued review of the structure and size of its manager and specialist functions.
"Like many other businesses, we are focused on being commercially sustainable," Ayers told Stuff.
The New Zealand Post was open last year about potential "significant job losses" in its workforce in the wake of declining mail volumes.
"We need to continue to make hard decisions about our future as we evolve to meet the needs of New Zealanders," said David Walsh, chief executive of the NZ Post, in a previous statement.
The New Zealand Post delivered 84 million parcels and 187 million letters in Financial Year 2024, according to its latest financial report. It announced that it will progressively stream mail to its parcel network to create a sustainable and cost-effective service.
Overall, the company reported a $14-million loss for FY2024, an improvement from the $56-million loss recorded for FY23.
"This year's financial result reflects the transition that we are undertaking, and is a pleasing result all things considered. We look forward to delivering on our multi-year financial plan, which sees us returning to profitability and becoming a regular dividend payer," Walsh said.
