Macedonian Postal Service unable to function after EuroStandard Bank’s forced bankruptcy

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The union of the Macedonian Post Office is demanding an urgent meeting with Prime Minister Zoran Zaev, as 2,300 employees face to be left without pay or even fired.

The post office heavily relies on the now bankrupt Eurostandard Bank, which had an exclusive contract to use the postal network for cash transfers and payments. With the bank now bankrupt, the post offices are no longer conducting financial transactions, and with that its main source of revenue is gone.

The Eurostandard bankruptcy is generating losses in all of the 330 post offices across the country. This adds to the disruptions in our international services and the reduction in the domestic market caused by the coronavirus. Our 2,300 employees are seriously concerned about the future of the company and their own futures, said Boro Veligdenov, head of the postal union.