BUCHAREST, Romania (AP) — The Romanian post office says that it will lay off more than 3,650 people as it cuts costs to make itself more competitive.
The International Monetary Fund, which has a precautionary loan agreement with the country, wants the postal service to be sold off. The post office said in a statement Tuesday that the layoffs, which had been agreed with the postal workers' trade union, began in August with 2,400 employees initially opting to be laid off.
The post office has about 32,000 employees and 5,600 post offices. At the end of 2012, it had debts of 568 million lei ($168 million) and a turnover of 1.2 billion lei.