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Royal Mail needs cutbacks to fill £7bn pensions hole – report (Guardian Unlimited)

Royal Mail is facing a pension deficit of £7bn and needs to implement sweeping efficiencies, a report to the business secretary, Lord Mandelson, and the Post Office minister, Pat MacFadden, will say. A review of postal services conducted by Richard Hooper, former deputy chairman of the regulator Ofcom, will reveal a deficit so large that ministers are likely to argue outright privatisation …

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