Correios increased the voluntary dismissal program (PDV) target to 15,000 employees. It is expected that 10,000 workers will be laid off in 2026 and another 5,000 in 2027. This measure could save the state-owned company 1.4 billion reais.
The PDV appears in the document “Correios em Reestruturação”, created to inform employees of the company’s restructuring project. It is to be executed between 2025 and 2027 and aims to get the company out of a serious financial crisis.
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The proposal also provides for changes to the health plan until June 2026. This is in addition to actions, until March 2026, to improve the management of Postalis, the company’s employee pension fund.
Another initiative announced is the “technical review” of a thousand loss-making units of the public enterprise. “This means evaluating real-world situations: units with low movement, operating costs well above average or locations where alternative channels, like Correios AQUI, can offer better efficiency,” the document states.
In the short term, says the company’s management, the goal is to regularize supplier payments by January 2026. To achieve this, the company is seeking a bank loan of around 20 billion reais, part for 2025 and the rest for 2026.
The public company indicates that it is negotiating alternatives to obtain such resources. On Wednesday (12/03), the National Treasury rejected the loan operation, considering the interest requested by the pool of banks which agreed to carry out the operation excessive. The federal administration is also studying a “transition solution” so that the company can execute the restructuring plan without negotiating with financial institutions under such unfavorable conditions.