Another €11 million into downsizing transport sector

Page created: Tuesday, 17 March 2015 9:04 GMT

Carris   CP   Metro   Refer   Transports

Redundancy costs incurred by state owned transport companies totalled €11.1 million according to figures released by the Ministry of the Economy on Monday.

This figure represents the lowest amount since this government took office and down from €14 million in 2010, €47.5 million in 2011, €11.6 million in 2012 and €17.3 million in 2013 across the Lisbon Carris bus and Metropolitan systems and its peer entities in Oporto, the national railway companies CP and Refer and the Lisbon Transtejo ferry operator.

In collective terms, these companies have shed 3,466 workers since the end of 2010, representing a fifth of their former work forces.

The largest gross job cuts have landed at CP (from 5,575 members of staff to 4,352), followed by Refer (3,796 to 2,903) and the group Carris (3,004 to 2,408).

In terms of their operational results, these state transport firms recorded a collective result of €57.5 million in 2014 against €6.7 million in 2013.

In the same period, operational costs dropped to €804.7 million from €838.7 million in 2013 with earnings rising from €845.4 million in 2013 to €862.3 million last year.