Royal Mail has said it has started the process of consulting on a programme of job cuts
Parent group International Distribution Services has it has started the process of consulting over “rightsizing the business in response to the impact of industrial action, delays in delivering agreed productivity improvements and lower parcel volumes”.
It said it is seeking short-term cost efficiencies through the planned reduction of 5,000 fulltime equivalent roles by March and around 10,000 by August.READ MORE: Family's sorrow over brother who was shot dead outside Derby police station It came amid a warning by parent group International Distributions Services that Royal Mail is expected to tumble to a £350 million operating loss for the year after being hit by industrial action.
Royal Mail chief executive Simon Thompson said: “This is a very sad day. I regret that we are announcing these job losses.“We have announced today losses of £219 million in the first half of the year. Each strike day weakens our financial situation. “The CWU’s decision to choose damaging strike action over resolution regrettably increases the risk of further headcount reductions.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Posties on strike again with 19 more walkouts planned in build up to ChristmasPostal workers have gone out on strike again today – and more walkouts are planned in the run up to Christmas.
Read more »
Leeds Royal Mail workers begin 19 days of walkouts - 18 other dates confirmedRoyal Mail strikes: Leeds postal workers begin 19 days of walkouts - 18 other strike dates confirmed
Read more »
Royal Mail workers walk out in first of 19 days of strikesThe planned 19 days of industrial action include Black Friday week and Cyber Monday, as well as 13, 20, and 25 October, and 28 November.
Read more »
Royal Mail issues date traditional stamps will become invalidThe most recognisable ‘everyday’ stamps featuring the Queen's profile against a plain coloured background are set to expire.
Read more »
Royal Mail workers walk out in first of 19 days of strikesNo letters will be sent during the strike, but medical deliveries will be prioritised.
Read more »
Royal Mail to examine up to 300 letters found on side of roadBobbie Baker, of the South Leicestershire Litter Wombles, says the letters are her 'weirdest' find.
Read more »