Royal Mail boss says prices are ‘under review’ as firm faces union battle

The boss of Royal Mail has said he will keep costs “under review” as the firm struggles to balance the cost of living crunch with rising union action.

Speaking to Sky News earlier today, Simon Thompson explained that his team was “not immune” to the cost of living crunch, acknowledging the Communication Workers’ Union (CWU) threats of industrial action over pay, as well as the rising costs.

Although the company recently hiked the price of a first-class stamp to 95p, the Royal Mail chief stated: “We have to be honest about what is around us”.

He admitted that the firm was continuing to review prices for stamps and parcels, and added that Royal Mail needed to be able to reach a deal with unions where they could compete in the market

Unite revealed today in a survey of 1,000 of its Royal Mail manager members that they are giving their employer almost 8,000 “free” hours every week.