The plan aims to reduce the company’s cost base by $1.1 billion, across its entire operation, with the full impact expected to be realized in 2027.

High costs have pushed Deutsche Post to cut thousands of jobs by the end of the year, the company said.

Deutsche Post has to take cost-cutting measures and is cutting 8,000 jobs by the end of the year in a "socially responsible" manner. This concerns

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.