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Double whammy for postal workers: 3,500 job cuts and worthless share scheme

The company also announced the next stage of its programme to close about half its 64 mail centres within the next five years Royal Mail has told workers that its employee share scheme will be virtually worthless when it matures next year, dashing hopes of a windfall for staff. Having carried out a valuation of the scheme, new chief executive Moya Greene has blamed the group's financial position …

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