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Royal Mail may cut 40,000 jobs
The Royal Mail could slash 40,000 jobs over the next five years in order to revamp its business model in the face of falling post volumes and impending privatisation. The postal service is in the middle of a modernisation drive, agreed with the Communication Workers Union. The programme includes about 24,000 job cuts. But as many as 15,000 additional jobs could be cut, as chief executive Moya Greene looks to pull the ailing business into shape.