Deutsche Post World Net said Wednesday it will take an $874 million writedown of the value of its struggling DHL Express business in the Americas.

DPWN Chief Financial Officer John Allan announced the financial action in a conference call with investment analysts in Europe as dismissed suggestions that the company will withdraw from the United States.

"We are determined to improve our performance and we're also absolutely committed to retaining a significant presence in the U.S.," said Allan.

Financial investment analysts are projecting DHL may lose up to $900 million this year in the United States, where the company has struggled to mount a challenge to UPS and FedEx in the domestic parcel and express market.