DHL unveiled plans on Thursday to lay off about 8,000 jobs this year as part of a strategy to save more than 1 billion euros ($1.08 billion) by 2027, after the German logistics giant reported a 7.2% fall in annual operating profit.

DHL unveiled plans on Thursday (Mar 6) to cut about 8,000 jobs in Germany this year as part of a strategy to save more than €1 billion (US$1.08 billion) by 2027, after the the logistics group reported a 7.

The planned cuts account for just 1.3% of the global workforce of DHL, in which Germany still holds a 16.99% stake via state lender KfW.

DHL announced plans on Thursday to cut about 8,000 jobs in Germany this year as part of a strategy to save more than 1 billion euros ($1.08 billion) by 2027, after the logistics group reported a 7% fall in annual operating profit.

According to DHL’s statement, it employs approximately 602,000 people in more than 220 countries and territories across the globe and the aforementioned unit of Post & Parcel Germany unit, the company has 190,

The logistics firm blames a recent wage deal with its labour union for the jobs cuts. Read more at straitstimes.com.

Shares in DHL owner Deutsche Post surged after the company said it would cut around 8,000 jobs in Germany this year as part of a broader plan to cut costs and position the company for longer-term growth.

The German logistics company announced a cost-saving plan after a "challenging" year in 2024. However, investors applauded fourth-quarter results. View on euronews