TNT Express to cut 4,000 jobs in 3 years to boost profit

AMSTERDAM, March 25 Mon Mar 25, 2013 3:17am EDT

AMSTERDAM, March 25 (Reuters) - Dutch delivery group TNT Express, which was the target of a failed $7 billion takeover by United Parcel Service, said on Monday it will cut 4,000 jobs over the next three years.

The cuts, which represent roughly 6 percent of the workforce, are aimed at creating cost efficiencies of 220 million euros by 2015, it said.

The company will take a restructuring charge of 150 million euros by 2015 as part of the plan.