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HomeLatest NewsCorreos absorbs its subsidiary Nexea to improve its efficiency and reduce costs

Correos absorbs its subsidiary Nexea to improve its efficiency and reduce costs

Date: February 2, 2023 Time: 14:11:45

The Council of Ministers has authorized this Tuesday the purchase of Nexea by the Post Office. In this way, the state-owned company will acquire its 100%-owned subsidiary in charge of the postal service that allows sending letters and documents by electronic means, and will integrate it into its postal business unit. This operation aims to advance in the process of improving efficiency and reducing structural costs, as defended by the Ministry of Finance and Public Function.

Nexea’s main activity is the provision of hybrid mail services, a postal service that allows the client to send their writings and documents by telematic or electronic means. The company is in charge of printing its content on paper and then wrapping it in an envelope, distributing it and delivering it to its recipients, and the provision of digitalization and document management services.

In this context, the Treasury explains that the market situation, both national and international since 2019, as well as the current situation with paper suppliers and the risks of demand evolution, have led to a restructuring of the company and an update of its plans. . “With this merger, a rationalized and efficient organizational structure is achieved within the group. Likewise, the employment continuity of employees is guaranteed, since Correos will be subrogated, in accordance with the provisions of article 44 of the Workers’ Statute, in the Nexea employment contracts”, explains the Government.

template continuity

In this way, the continuity of the 150 Nexea workers is ensured after its dissolution without liquidation and the en bloc transfer of its corporate assets to Correos, which will acquire all of said assets, as well as its rights and obligations. According to the unions CC.OO. and UGT, this operation will mean adding an additional deficit of about 15 million euros to Correos, as well as more than 5 million euros of additional payroll, which would add “to the more than 100 million deficit” of the parent company.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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