With the aim of tackling the deficits recorded since 2022, Correios released this Monday (29) a restructuring plan with the aim of changing the state-owned company’s corporate regime with the possibility of opening the company’s capital.
With this, Correios, which is now 100% public, could become a mixed economy company, like Petrobras and Banco do Brasil, which have private shareholders.
The president of Correios, Emmanoel Rondon, informed at a press conference in Brasília that he is waiting for the hired consultancy to present proposals for changes at the state-owned company.
“Today there is no look at privatization, but there is a look at partnerships, including corporate ones. There are examples of mixed economy companies that work. There are examples in which there is no mixed economy company, but there are specific partnerships for relevant topics, such as financial business and security”, he explained.
Rondon added that “there is no definition of what type of partnership will be made yet” and highlighted that it is necessary to wait for the result of the consultancy. According to the company, the change would be to adapt “Correios to the competitive environment of the logistics sector, which requires flexibility and technology”.
Correios’ restructuring plan also foresees the closure of a thousand state-owned brancheswith expense cuts of around R$5 billion by 2028, including property sales and two voluntary dismissal plans (PDVs) to reduce the number of employees by 15 thousand by 2027.
Billionaire loan
Correios also announced that it took out a loan of R$12 billion from five large banks to balance its accounts, with R$10 billion disbursed in 2025 and another R$2 billion in January 2026. The loan has a three-year grace period.
“[Esse empréstimo] It will allow compliance with contracts with suppliers, employee benefits and taxes. Accounts up to date, with the quality of the operation recovered, we once again have confidence in the market”, explained the company president.
The loan contract was signed last Friday (26)with Bancos do Brasil, Caixa Econômica Federal and Bradesco contributing R$3 billion each, while Itaú and Santander contributed another R$1.5 billion each.
Even with this loan, the president of the state-owned company states that the company continues to seek an additional R$8 billion in revenue to balance its accounts, with the resources being able to come from new loans or through contributions from the National Treasury.
“This need for funding will be seen throughout 2026, to see if the best option is to invest [do Tesouro] or other credit transaction. How we do the composition has not yet been defined,” said Rondon.
Restructuring plan
The Correios restructuring plan was expected due to the successive negative results that the state-owned company has accumulated since 2022, with a structural deficit of R$4 billion annually “due to compliance with the universalization rule”, as explained by President Rondon.
In 2025, the state-owned company records a negative balance of R$6 billion in the first nine months of the year and has a negative net worth of R$10.4 billion.
Crisis in the postal sector
Correios is facing a financial crisis that, according to the company’s management, has been going on since 2016, motivated by changes in the postal market due to the digitalization of communications, which replaced letters, reducing Correios’ main source of revenue.
The state-owned company also attributes financial difficulties to the entry of new competitors in e-commerce as one of the reasons for the current crisis in the sector.
“It’s a market dynamic that happened all over the world and some postal companies managed to adapt. Several of these companies still record losses. An example is the American postal company that is reporting losses in the order of US$9 billion”, compared Emmanoel.
The president of the Brazilian state-owned company referred to the United States (USA) public company Unit States Posta Service (USPS), which also recently announced measures to address financial deficits.
