Correios will reopen, next week, registrations for the Voluntary Severance Plan (PDV) planned for around 10 thousand employees this year. The initiative is one of the cost-cutting measures foreseen in the recovery plan to balance the state-owned company’s financial situation.
According to the plan announced by the company in December, the expectation is that up to 15 thousand employees will be part of the layoff plan by 2027. Correios estimates savings of R$2.1 billion annually with the layoffs.
The layoffs are expected to occur throughout 2026 and 2027, with around 10,000 cuts this year and another five thousand next year.
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Participation in the program is voluntary. According to the Post Office, in this PDV 2026, registrations will be open until March 31st. The shutdowns will be completed by the end of May.
In an announcement this Friday, Correios released the rules so that employees can sign up for the layoff plan:
- You must have at least ten years of effective experience at the company and have received remuneration for at least 36 months within the last 60 months.
- Employee must be under 75 years old at the date of dismissal
In addition to the layoffs, Correios also plans to close a thousand branches, with expected savings of R$2.1 billion.
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Even with the measures, Correios is expected to present a deficit of around R$9 billion in 2025. The tendency is for there to be an even greater loss next year, according to the company’s president. Correios should only return to profit from 2027.
The plan will be implemented to reverse 12 consecutive quarters of company losses. Currently, the company faces a structural deficit of more than R$4 billion annually due to compliance with the universalization of the postal service in remote locations.
Check out the main measures announced below:
- Loan of R$12 billion (R$10 billion this year, and R$2 billion in 2026).
- More R$8 billion in credit operations in 2026
- Voluntary dismissal plan for 15 thousand employees with savings of R$2.1 billion annually
- Review of health plans, with savings of R$700 million
- Closing of a thousand loss-making branches and redesigning the network, with a positive impact of R$2.1 billion
- New partnerships and diversification of activities (financial services and insurance), with expected gains of R$1.7 billion
- Sale and disposal of properties and assets, with estimated revenue of R$1.5 billion
- Loan of R$4.4 billion with Brics bank to modernize services and technologies
- Hiring consultancy to review organizational and corporate model
