SingPost’s earnings take a hit from intense manpower crunch

Higher wages offset its regional growth.

The Postman’s earnings have taken a hit from Singapore’s manpower crunch. SingPost’s labour costs jumped 11% in Q3 due to higher wages in Singapore.

According to DBS, higher labor costs offset benefits from SingPost’s regional growth SingPost is turning to automation and outsourcing to rein in its costs.

“Besides increasing automation in mail sorting and delivery, SPOST has begun to outsource some of its functions offshore like call centres to India and is grooming regional management teams outside Singapore
to address the cost challenges,” stated DBS.

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