Royal Mail owner has warned they will not rule out job losses and price rises has they are facing a £120 million hit from Labour’s Autumn Budget. Labour’s Budget will hit Royal Mail “harder compared to our competitors,” warned Martin Seidenberg, chief executive of parent firm International Distribution Services (IDS). …
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Martin Seidenberg, chief executive of parent firm International Distribution Services (IDS), said measures from Rachel Reeves’ maiden Budget last month will “hit us harder compared to our competitors”. The firm said a £134 million write-down linked to the national insurance increase has stopped it returning to profit for the past …
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By JANE DENTON Updated: 05:50 EST, 21 November 2024 Further Royal Mail price hikes could be on the cards after the owner of the postal service flagged greater cost pressures arising from the Autumn Budget. International Distribution Services said it could not rule out price hikes and greater use of …
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The price of a first class stamp has rocketed from 60p to £1.65 since Royal Mail was privatised and could jump again Threat of new stamp price hike after £120m cost to Royal Mail of national insurance rise ( Image: ROYAL MAIL GROUP/AFP via Getty I) Royal Mail has threatened …
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Royal Mail has warned stamp prices will rise AGAIN due to a £120 million hit from the Labour Party Budget. The boss of the postal service told reporters this morning that he could not rule out hiking stamp prices even higher. It comes as it faced the enormous burden of …
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Sales are up and losses have been significantly reduced at Royal Mail – but an expected £120m increase in costs due to the upcoming National Insurance hike has resulted in a £134m impairment charge at the business. Royal Mail parent group International Distribution Services (IDS) announced its interim results this …
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Royal Mail has announced plans to increase its prices after incurring a significant financial hit due to a tax change in the UK Budget. The postal service company is dealing with a £120 million impact from the tax raid introduced by Rachel Reeves. This measure notably includes a rise in …
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Royal Mail has warned that its heavily lossmaking business will be hit by a further £120 million of costs from the budget increase in employer national insurance contributions. With retailers and the hospitality trade already issuing grave warnings on the impact of the rise in tax on companies, Royal Mail …
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The group behind Royal Mail has warned it cannot rule out job cuts or price hikes in the face of a £120 million hit from the autumn Budget national insurance changes. Martin Seidenberg, chief executive of parent firm International Distribution Services (IDS), said measures from Rachel Reeves’ maiden Budget last …
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Reuters Royal Mail owner IDS warns of cost pressures after return to profit (Reuters) -The parent firm of Britain’s Royal Mail warned of a worsening cost environment following last month’s budget and said it could not rule out price hikes and higher automation as it looks to cut costs after …
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