Royal Mail to slash 2,000 jobs as profit sinks 25 per cent June 25, 2020 Royal Mail is set to make 2,000 staffredundant to save £130m to combat the impact of coronavirus after the sudden departure of its ex-CEO in May. The postal delivery service said it needed to take “immediate action” on costs after profit before tax plunged 25 per cent to £180m in the financial year to the [...]
Royal Mail chief executive Rico Back steps down after less than two years May 15, 2020 The chief executive of Royal Mail has stepped down after less than two years in the role. Rico Back has stepped down as group chief executive with immediate effect, and will leave the company on 15 August after more than 30 years. Back, who joined the company in 1989 and was appointed as chief executive [...]
Royal Mail to raise price of stamps from 23 March February 21, 2020 The Royal Mail will raise the prices of its stamp from 23 March as the former postal monopoly continues to struggle against a “challenging business environment”. A first class stamp will increase by 6p to 76p, while the price of a second class stamp will increase by 4p to 65p. The postal service said that [...]
Strike on the cards for Royal Mail workers despite pay rise offer February 21, 2020 Royal Mail’s workers are set for its first national strike in a decade as the postal service’s largest union said it could call a stoppage as early as next month. Yesterday Royal Maul proposed a six per cent three-year pay deal to the Communications Workers Union in a bid to avoid such strike action. However, [...]
Royal Mail shares jump on union pay proposals February 20, 2020 Shares in Royal Mail jumped this afternoon after it proposed a six per cent three-year pay deal to the Communications Workers Union in a bid to avoid strike action. The company’s share price increased 4.76 per cent after it announced its new pay proposals. Earlier this month Royal Mail said the union was preparing for [...]
Royal Mail shares bleed red as strike threat puts profit in doubt November 21, 2019 Shares in Royal Mail plunged almost 18 per cent today after the postal service warned the threat of industrial action could lead to it posting a loss or breaking even next year. Despite reporting an increase in pre-tax profit for the first half, the company said its turnaround plan is “behind schedule”, denting investor confidence [...]
Royal Mail workers vote in favour of largest strike in a decade October 15, 2019 Royal Mail will face its first national postal strike in a decade after workers voted overwhelmingly in favour of a mass walkout. Read more: Parcel pandemonium: Royal Mail braces for Christmas strike chaos The motion was passed by more than 97 per cent of the votes following a ballot of roughly 110,000 Communication Workers Union [...]
Parcel pandemonium: Royal Mail braces for Christmas strike chaos October 13, 2019 Letter and parcel deliveries could be thrown into disarray over Christmas as Royal Mail workers threaten to launch strike action. Read more: Royal Mail launches search for new UK director More than 100,000 members of the Communication Workers Union (CWU) have been balloted over strike action, with the results expected on Tuesday. If passed, the [...]
Over 100,000 Royal Mail workers to vote on strike action August 22, 2019 More than 100,000 Royal Mail workers are set to be balloted on taking industrial action over issues including job security and employment conditions. The Communication Workers Union (CWU), which announced the ballot, had accused Royal Mail of not honouring the “spirit and intent” of an agreement earlier this week. In a tweet announcing the ballot, [...]
Royal Mail to slash dividend 40 per cent as profit drops by a third May 22, 2019 Royal Mail said today it will cut its dividend 40 per cent from next year as it earmarks extra cash to invest in the business. The figures The company today announced a drop in operating profit of 34 per cent. It said operating profit after transformation costs for the 52 weeks ended March 2019 was [...]