Royal Mail cuts up to 10,000 jobs as losses rise

Royal Mail has announced plans to cut 10,000 jobs by next August, blaming ongoing strike action and rising losses in business, reports the BBC.

The postal company said it will begin informing workers of plans that include layoffs of up to 6,000 jobs.

Apart from redundancies, companies reduce roles through attrition, for example not replacing retired workers.

Royal Mail also said it expects a loss of £350m for the full year.

This includes the “direct impact of the eight days of industrial action” and a drop in parcel mailing volumes.

However, the company warned that losses could reach up to £450m if “customers leave the volume for a longer period” after the strike action.

read more here

https://www.independent.com.mt/articles/2022-10-15/world-news/Royal-Mail-to-axe-up-to-10-000-jobs-as-losses-rise-6736246673 Royal Mail cuts up to 10,000 jobs as losses rise