BRITISH POSTAL COMPANY TO REVAMP PARCELS ARM, SHEDS 30,000 JOBS

BRITISH POSTAL COMPANY TO REVAMP PARCELS ARM, SHEDS 30,000 JOBS    Consignia, the British postal service company, said it will restructure its U.K. parcels business and cut 17,000 jobs, as it reported a '1.1 billion ($1.6 billion) pre-tax deficit for the year ended in March.
   The 17,000-job reduction is in addition to a plan announced in March to eliminate 13,000 jobs. Consignia expects to reduce its staff by 30,000 jobs over the next three years.
   The company reported an underlying loss from operations of '318 million ($461 million) for the year to March. This operating deficit included a loss of '94 million ($131 million) on the company’s U.K. parcels, a loss of '58 million ($84 million) on international mail and parcels, and a loss of '15 million ($22 million) on its logistics solutions arm.
   Consignia said it would implement gross cost savings of '1.4 billion ($2 billion), including annual savings of '500 million ($725 million) to be made by restructuring its U.K. parcels business.