Correios Unveils Recovery Plan With 1,000 Closures and 15,000 Voluntary Exits After Securing R$12 Billion Loan

Overview

• The R$12 billion credit line from Bradesco, Itaú, Santander, Banco do Brasil and Caixa has a federal guarantee, with R$10 billion disbursed now and R$2 billion in 2026 to restore liquidity and clear arrears.
• The restructuring calls for shutting about 20% of branches and launching voluntary layoff programs from January 2026 to cut up to 15,000 jobs, aiming for R$2.1 billion in annual personnel savings and roughly R$5 billion in expense reductions by 2028, plus R$1.5 billion from property sales.
• Management plans to diversify revenue via logistics partnerships, financial services and insurance, and targets a R$4.4 billion BRICS bank loan for automation, fleet renewal and IT upgrades between 2027 and 2030.
• Years of losses and a parcel-market share drop from 51% to 22% since 2019 have weakened operations, and on‑time delivery has slipped below 70% during the ongoing strike.
• After conciliation failed, the TST will judge the collective labor dispute and has ordered at least 80% staffing at each agency under a R$100,000‑per‑day penalty, as the company also contends with the highest volume of new labor cases at the court in the past two years.