Royal Mail faces £100m hit from strikes | Business

Four days of postal strikes that begin tomorrow are set to deliver a £100 million blow to Royal Mail’s finances.

The company is in deadlock with the Communication Workers Union in a dispute over pay and modernisation.

About 115,000 Royal Mail workers plan 24-hour industrial actions tomorrow, on Wednesday next week and on September 8 and 9 after rejecting a below-inflation pay offer. The union is also set to launch separate strikes, on dates to be announced, after a ballot on workplace changes.

Royal Mail told the stock market this month that the initial strikes would leave it “materially lossmaking in the 2022-23 financial year”.

The action is expected to cost it about £25 million in revenue a day, comprising £10 million in letters and