Royal Mail has warned union bosses preparing to strike that the business could be split in two as its British arm loses £1m a day. The former FTSE 100 company warned the Communication Workers Union (CWU), whose 115,000 members yesterday voted in favour of strike action, that its UK and …
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Royal Mail is losing £1m a day, its chairman has revealed. The business reported an adjusted operating loss of £92m between April and June – the first financial quarter. Chairman Keith Williams blamed the slump on a decline in parcel volumes and a lack of progress in “delivering efficiencies”. Mr …
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The UK is set for delivery chaos as Royal Mail workers voted in favour of strike action in the coming weeks. A pay dispute is at the heart of the strike, which if not settled, will cause disruption to delivery over the summer. Approximately 115,000 Royal Mail postal work voted …
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Wednesday 20 July 2022 at 14:40 Weaker retail trends, fewer test kit deliveries and a structural decline in letters meant revenue fell 5.1% to £3.0bn in the first quarter. This reflected an 11.5% decline in Royal Mail PLC (LON:RMG) revenue which more than offset a 7.8% increase at GLS. With …
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It is threatening a break up of the business which can trace its history back to 1516. Postal workers, among the feted heroes of the Covid crisis, voted yesterday for industrial action after refusing a 5.5% pay rise. Today the business said it had lost £92 million in the quarter …
Read More »That escalated quickly. A day after Royal Mail workers voted to strike over pay, their employer is threatening to perform the splits unless “significant operational change” happens. The UK postal service would go one way, taking its industrial relations disputes and modernisation challenges with it. GLS, the more profitable parcel …
Read More »Royal Mail has indicated that it could break up the postal service and courier company if it is unable to move ahead with changes at its UK business, which lost about £1 million a day between April and June. The company, which is facing strike action from workers over pay …
Read More »Royal Mail has reported it is losing £1m a day and has threatened to split if it cannot achieve “significant operational change”, as it faces what could be the biggest strike of the summer. The day after thousands of its staff in the Communications Workers Union voted in favour of …
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Alan Green joins the Podcast for an in-depth discussion around the current market conditions and a selection of UK equities. We break down the current market dynamics and question whether we have seen a bottom in markets as investor sentiment improves. Click here to subscribe Royal Mail has changed their …
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Royal Mail is losing £1mn per day Parcel and letter volumes are falling Royal Mail’s (RMG) latest trading update is a litany of woes. Divisional revenue is down by 11.5 per cent, its cost saving plan has stalled, it is losing £1mn a day, retail trends are weakening, and parcel …
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