Unite the union pledged today (Tuesday 25 January) to fight plans by the Royal Mail to axe 700 managerial jobs, after a £400 million giveaway to key shareholders. Unite said its members were being made the scapegoat for the bosses’ failure to maintain deliveries during the two-year old pandemic which …
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What’s going on at Royal Mail and what do investors make of today’s profit downgrade, here we break it down. What’s happened? Royal Mail PLC (LSE:RMG) has cut its profits forecast in its UK arm this year down to £430mln from £500mln. At the same time, Royal Mail announced plans …
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Royal Mail Gains as Investors Cheer Cost-Cutting Moves Shares in Royal Mail rise 5% as investors welcome moves by the company to cut costs despite reducing full-year profit guidance. The company now expects an adjusted operating profit of around GBP430 million for the year ending March, compared with previous guidance …
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Royal Mail is set to cut 700 jobs as part of a huge cost-cutting reorganisation of the business. The postal service announced plans to make 700 managers redundant, which would save around £40million every year – that’s around £57,142 per manager. Around £30million of that would come between April 2022 …
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UNITE vowed to fight Royal Mail’s plans to axe 700 jobs today as the threat of strike action looms large. The announcement, affecting managerial positions, came after Communication Workers Union (CWU) members unanimously approved a strike ballot over Post Office pay freezes on Monday. Unite said that its members were being made the scapegoat for bosses’ failure …
Read More »Many of the complaints that Royal Mail has received (Report, 25 January) are from my Hornsey and Wood Green constituents, as for the second year running our community has been one of the hardest-hit by postal delays. I have had countless distressing emails from residents who have missed urgent cancer …
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An analysis of Royal Mail quality of service reports has found that over 1 million customer complaints were investigated last year in what was the most in over a decade. It was also an increase of nearly 50% compared to the previous year. Royal Mail is the UK version of …
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Mr Thompson, who also previously worked for Apple and is on Coca-Cola’s digital advisory board, insisted that the cuts were a continuation of already agreed proposals with Unite and the Communication Workers Union to remove 1.2m working hours from the business. “Ourselves and our unions are totally sticking with our …
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Royal Mail has benefited from a boom in parcel demand during COVID lockdowns, helping the group make up for a decades-long slide in letter volumes. But as coronavirus restrictions have eased, parcel volumes have tapered off from the highs of 2020, while rising inflation has raised costs. “Looking forwards, the …
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Trading since December has been affected by staff absences caused by omicron and inflationary pressures. Royal Mail PLC (LSE:RMG) has cut its profits forecast for this year and announced plans to shed 700 managerial jobs as part of a reorganisation plan. “As a next step, subject to consultation, we intend to …
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