1,500 jobs may be lost as An Post faces 50m losses

Chief Business Correspondent

Losses of up to 50 million are projected by the group for 2003 following a detailed review of the current year’s trading outlook by recently-appointed chief executive Donal Curtin.

The projected loss under the old management of 15.4 million was unrealistic and failed to take account of several factors, including the cost of benchmarking and ongoing commitments under the last national pay deal.