Japan Post’s Toll Group to axe 1,700 staff

Toll Group, the Australian logistics company bought at a hefty premium by Japan Post in a record acquisition two years ago, is to axe 1,700 jobs — more than 4 per cent of its 40,000-strong global workforce.

The cuts at Toll, which the company says will affect both back-office and operational positions, follow a strategic review to address what Toll said were “significant challenges” facing the industry.