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TNT expects to report USD62m loss in 4Q2010, to lay-off one third of staff

15-Feb-2011 10:59 AM

TNT stated it expects to report a loss of USD62 million in the three months ended 31-Dec-2010 due to severe weather in Europe, labour strikes and business integration costs (Takungpao, 14-Feb-2011). The carrier is also reportedly planning to lay-off 11,000 of its 38,000 employees. For the full year, TNT is forecasting a profit between USD580 million and USD607 million. TNT is scheduled to report its 4Q2010 results on 21-Feb-2011.