Operating costs haven’t budged More strikes planned for November The parent company of Royal Mail has blamed weak parcel volumes, strike action and faltering productivity for a hefty operating loss, and has repeated plans to cut 5,000 full-time roles by next spring. Revenue at International Distributions Services (IDS) only decreased …
Read More »
Royal Mail has asked the Government for an early move to cut its letter service to five days a week after unveiling an approximately £219million loss bosses say was worsened by strike action. The postal service is looking to switch from a six-days-a-week letter delivery service to five, covering Monday to …
Read More »
Royal Mail has slumped to a first-half loss and reiterated warnings it will tumble deeper into the red for the full-year after strike action cost it around £100 million. Owner International Distributions Services (IDS) said Royal Mail fell to a £219 million underlying operating loss in the 26 weeks to …
Read More »
STAMP DEADLINE EXTENDED: The ban on certain stamps will start six months later than planned (Image by Matt Cardy/Getty Images) Reporting by Katie Harris The ban on ‘old’ stamps without a barcode is being pushed back until the summer. Royal Mail is rolling out new versions of stamps with machine-readable …
Read More »
Royal Mail has asked the Government for an early move to cut its letter service to five days a week as it unveiled hefty losses after taking a financial hit from strike action. Boss Simon Thompson vowed to do “whatever it takes” to turn the group around after half-year results …
Read More »
© Reuters. By Scott Kanowsky Investing.com — Britain’s Royal Mail has posted a half-year adjusted operating loss of £219 million (£1 = $1.1903), matching a warning issued in October, as the more than 500-year-old business faces the impact from strikes and weak parcel volumes. The delivery service also confirmed a prior …
Read More »
Royal Mail has asked the UK government for an early move to cut its letter service to five days a week after strike action saw it rack up hefty first-half losses. Chief executive Simon Thompson vowed to do “whatever it takes” to turn the group around after interim results showed …
Read More »
Royal Mail owner International Distributions Systems swung to a half-year loss, blaming weak parcel volumes and strikes at the UK postal carrier, and also axed its interim dividend. Reported pre-tax losses came in at £127m, compared with a profit of £315m a year earlier. The company also said it would …
Read More »
Royal Mail has asked the government’s permission to cut its letter delivery service from six to five days, as it looks to stave off a deepening financial crisis amid a long-running dispute with postal workers. The company, which currently delivers letters Monday to Saturday, urged ministers on Wednesday to enable …
Read More »
Royal Mail have petitioned the UK Government to cut letter services down to five days a week after admitting heavy losses following crippling industrial action. Three days of crippling strikes in the first half of the year are reported to have cost the organisation around £70 million. Further strikes in …
Read More »