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The State will have to come to the aid of La Poste

A report calls for a subsidy or tax breaks to help the state-owned enterprise.

The State is likely to have to put its hand in its pocket to get out of the La Poste rut, which is facing a drop in mail volume (- 18% in 2020), accentuated by the health crisis. The growth of its parcel delivery activity no longer sufficient to compensate for this attrition, the “universal postal service” mission fell into the red in 2018. Last year, its deficit peaked at 1.3 billion dollars. euros. Only the integration of CNP Assurances enabled the La Poste group, which also includes La Banque Postale and subsidiaries abroad, to generate a profit in 2020.

The government, the Caisse des Dépôts (new majority shareholder), local elected officials, the management of La Poste and the unions are all aware that such a situation is not tenable. The executive therefore entrusted Jean Launay with a mission in February to examine several solutions. The former deputy for Lot submitted his report on Friday, and the government should render its arbitrations within two to three weeks.

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