ROYAL Mail has announced it will cut 2,000 management jobs as part of a major overhaul following the coronavirus crisis.
The move will save the business £130million in staffing costs next year as it reported a 31 per cent fall in annual profits.
The company also said it was also cutting £300million in capital spending across the group over the next two years.
Keith Williams, interim Executive Chair, Royal Mail Group, commented: "In recent years, our UK business has not adapted quickly enough to the changes in our marketplace of more parcels and fewer letters.
"Covid-19 has accelerated those trends, presenting additional challenges."
He continued: "I’d like to offer my profound thanks to all my colleagues across the group.
"Our UK postmen and women are playing a crucial role in mitigating the impact of the COVID-19 pandemic. They are key workers on the frontline."
More to follow…
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