DHL Group’s profit fell by 9 percent last year, it will cut 8,000 jobs in Germany this year

The company’s after-tax profit fell 9 percent to 3.33 billion euros last year, while revenue rose 3 percent to 84.19 billion euros. Annual EBIT, or earnings before interest and taxes, fell 7 percent to 5.89 billion euros, but still exceeded the average analyst estimate of 5.81 billion euros.

DHL Group expects EBIT to increase to at least 6 billion euros this year, which is below the 6.29 billion euros expected by experts. DHL noted that the forecast does not take into account possible changes in tariffs or trade policy, which could have a significant negative or positive impact on the company’s performance.

On Thursday, the company announced that it aims to achieve cost savings of more than 1 billion euros by 2027 through various measures across all business areas. As part of this, it will eliminate around 8,000 jobs in Germany by the end of this year.