Royal Mail to cut thousands of jobs in sweeping overhaul
Royal Mail will cut as many as 2,500 jobs as part of a root-and-branch overhaul that the ailing postal service hopes will reduce its overheads at a time of dwindling usage and scrutiny over its delivery performance. The group, which was bought off the London Stock Exchange by Czech billionaire Daniel Kretinsky in 2024, unveiled [...]
Royal Mail is set to eliminate up to 2,500 positions as part of a comprehensive business restructuring, aiming to curb costs and enhance efficiency in a highly competitive market. The overhaul, spearheaded by newly acquired chief executive Alistair Cochrane, focuses on streamlining operations and eliminating duplication to bolster the service delivered to customers.
This significant transformation, spanning until the end of 2027, will impact less than two percent of the postal service's workforce while keeping frontline staff, including delivery personnel, untouched. The decision comes after Royal Mail, under Kretinsky's ownership, has witnessed a staggering 70 percent drop in letter deliveries since its peak in the mid 2000s and faced severe criticism for its delivery performance.
Despite recent improvements, the company was fined £21 million by Ofcom for missing on-time delivery targets, prompting a reevaluation of their service standards.
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