Consignia is in talks to outsource maintenance of its buildings as part of its three-year plan to cut costs and return to profit.

The postal group said it was in talks with engineering group Balfour Beatty to conclude a partnership for its facilities management business Romec, which is responsible for day-to-day maintenance of its 3,000 buildings.

Under the deal, the pair would create a joint venture with Consignia owning a 51 per cent share of the new business.

The new company would then be awarded a seven-year, £1 billion contract to provide services such as office cleaning and security camera maintenance.

Romec's 5,000 staff, including skilled engineers, cleaners and other specialists, would transfer to the new company on existing terms and conditions.

A spokeswoman for Consignia said there would be no job cuts as a result of the deal.

Consignia, which is losing more than £1.5 million a day, said outsourcing of Romec and other parts of its support services was part of a three-year plan to return the postal group to profitability.

It would improve support services that were not core to the postal network and would save £60 million a year.

Consignia last month announced plans to cut costs by £1.2 billion and axe 15,000 jobs by restructuring Parcelforce.

Malcolm Kitchener, Consignia's managing director, said: "Outsourcing will help to reduce costs, increase efficiency and give our people fresh opportunities in new companies.

"Romec already operates outside of Consignia with significant external contracts won with major retailers, banks and public sector organisations.

"By joining forces with Balfour Beatty, the joint venture will be in a stronger position to bid for even larger and more diverse contracts."