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Restructuring of Österreichische Post AG:

Pressemeldung from 7/4/2003

Package to mitigate effects of job loss

Within the framework of the restructuring of Österreichische Post AG, the Management Board has worked out a package of measures to mitigate the effects of job losses. The purpose of the package, which applies to both employees and civil servants whose jobs will be made redundant, is to soften the consequences of job loss. The Management Board and the staff representatives have agreed on this measure today, Friday 4 July 2003.
“Restructuring is an absolute must, and there is no way to avoid job cuts. However, we want to do this in as fair and socially acceptable a manner as possible”, assured Österreichische Post AG CEO Anton Wais.
Subject to approval by the Supervisory Board, the enterprise will support the staff members affected by the restructuring measures who are willing to leave the enterprise on the basis of a financial severance model:

  • Civil servants whose jobs are made permanently redundant and who terminate their service contract by leaving the enterprise (according to §22 et sqq. BB-SozPG (Act on Federal Employees Social Compensation Plan)) will receive a one-off gross payment equaling the amount of the legally prescribed severance payment (twelve times the last monthly salary). The total amount of such a payment is limited to a maximum of € 50,000.
  • Employees whose job becomes redundant due to restructuring and who amicably terminate their employment will receive a voluntary severance payment in addition to the legally prescribed one.  The amount of such payment will depend on the duration of employment: After completion of the third year of employment, it will amount to two monthly salaries, after completion of the fifth year of employment, to three monthly salaries, after completion of the tenth year of employment, to six monthly salaries, and after completion of the 20th year of employment, to twelve monthly salaries.

A verifiable and uniform procedure has been defined for restructuring measures that result in staff cuts. In each case, the respective staff representative will be informed, and planned changes in the organization will be discussed in detail. Moreover, a “reorganization workflow” and “internal guidelines on recruiting and job assignment” have been agreed upon with the staff committee. These rules will be followed without exception.
Like any other business enterprise, Österreichische Post AG has to be managed according to commercial principles. Given the liberalization of the market and the generally difficult economic situation, cost reduction is an absolute must. As payroll costs constitute one of the largest cost factors for the enterprise, there is no way to avoid reductions nor is it possible to balance these costs through cost cutting measures in other areas.

For more information please contact:
Österreichische Post AG
Company communication
Press section/ PR
Johannes Angerer
Tel.: +43 (1) 515 51 - 32012

Vienna, 4 July 2003

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