Correios will sell 21 properties at auctions; The objective is to raise R$1.5 billion by December

Correios has put state-owned properties up for sale, in yet another stage of the restructuring plan to balance the company’s financial situation. According to an announcement this Friday, the first auctions are scheduled for February 12th and 26th.

In this first round, Correios will offer 21 properties. According to Correios, the expectation is to raise up to R$1.5 billion by December with this first auction and the sale of other assets that are in the preparation process.

Among the properties that will be auctioned are administrative buildings, former operational complexes, land, warehouses, stores and functional apartments, with initial values ​​ranging from R$19,000 to R$11 million.

“The ongoing competitions include properties located in the states of Bahia, Ceará, Goiás, Mato Grosso, Mato Grosso do Sul, Minas Gerais, Pará, Paraíba, Paraná, Pernambuco, Rio Grande do Norte and São Paulo”, details the state-owned company,

According to the company, proceeds from sales will be used to strengthen operations, modernize logistics infrastructure and long-term sustainability of the state-owned company.

Dismissal plan

This week there was the opening of registrations for the Voluntary Severance Plan (PDV) planned for around 10 thousand employees this year.

According to the plan announced by the company in December, the expectation is that up to 15 thousand employees will be part of the layoff plan by 2027. Correios estimates savings of R$2.1 billion annually with the layoffs.

The layoffs are expected to occur throughout 2026 and 2027, with around 10,000 cuts this year and another five thousand next year.

Measures announced

In addition to the layoffs, Correios also plans to close a thousand branches, with expected savings of R$2.1 billion.

Even with the measures, Correios is expected to present a deficit of around R$9 billion in 2025. The tendency is for there to be an even greater loss next year, according to the company’s president. Correios should only return to profit from 2027.

The plan will be implemented to reverse 12 consecutive quarters of company losses. Currently, the company faces a structural deficit of more than R$4 billion annually due to compliance with the universalization of the postal service in remote locations.

Check out the main measures announced below:

• Loan of R$12 billion (R$10 billion this year, and R$2 billion in 2026).
• More R$8 billion in credit operations in 2026
• Voluntary dismissal plan for 15 thousand employees with savings of R$2.1 billion annually
• Review of health plans, with savings of R$700 million
• Closing of a thousand loss-making branches and redesigning the network, with a positive impact of R$2.1 billion
• New partnerships and diversification of activities (financial services and insurance), with expected gains of R$1.7 billion
• Sale and disposal of properties and assets, with estimated revenue of R$1.5 billion
• Loan of R$4.4 billion with Brics bank to modernize services and technologies
• Hiring consultancy to review organizational and corporate model