Dutch postal company PostNL is cutting 200 to 300 full time jobs to reduce costs, and will take ‘other measures’ to make savings, mainly at the parcels division.

The measures are needed to combat the impact of the ‘turbulent environment’ in 2022, chief executive Herna Verhagen said in a statement ahead of the presentation of the company’s annual results.

Record inflation and low consumer confidence both impacted on the company’s results as consumers bought less on line and sent fewer packages. Parcel volumes were down 10% while the volume of letters fell 8%.

Increased competition on the postal market also played its part, Verhagen said. ‘It is crucial, therefore, to keep investing in strengthening our fundamentals and our position in a dynamic and very competitive market,’ she said.

In total, PostNL delivered 344 million parcels last year, down from 384 million in 2021. Overall revenue fell 9% to €3.1 billion while operating profit was down 73% at €84 million.