Major management restructuring in the face of declining revenues at the UK International division of TNT Express has also seen ‘a handful’ of top executives made redundant, Motortransport.co.uk has learnt. The news comes as the Dutch-owned delivery company, which is set to be acquired by larger US rival FedEx for around £3bn, reported its global results for Q2 2015. It revealed underlying revenue growth of 4.1% and a narrower net loss compared to the same time last year. The company […]
UK Mail expects volume growth in its parcels division to slow down in the second half of this year as it continues to feel the effects of a weakened retail market and poor volumes in the second quarter.
UPS and TNT Express do not now expect their multi-billion euro merger, announced in March, to be completed until early 2013. The operators had originally hoped to seal a deal in the first half of the year, but involvement from the European Commission as regulator scuppered this timetable. Last month the European Commission temporarily suspended the takeover to allow regulators more time to gather information, a process that is ongoing. Despite this UPS and TNT had still expected to complete […]
TNT Express is still processing parcels manually nearly a month after it was hit by a worldwide cyber attack, and has predicted it may not be able to recover the data lost in the incident.