TNT cuts back on air capacity and staff numbers as it fights economic gloom

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TNT Express is considering cutting its fleet by at least five large aircraft as part of its restructuring plan. It has also said it will cut 4,000 jobs, or 6% of its workforce, two thirds of which will be in Europe, as it aims to bounce back from its failed merger attempt with UPS, which was blocked by European competition authorities.

But it is certainly unlikely that the EU would have wanted to trigger some 2,640 job losses in the region. ...