About 2,000 jobs are set to go at Royal Mail after it admitted it had been too slow to adapt to a huge growth in parcels. As it published its financial results for the year ending 29 March 2020, Keith Williams, interim executive chair of Royal Mail Group, said: “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.” […]
Peak parcel volumes at Royal Mail Group were up 4% year-on-year, with the post and parcel giant handling 120 million in December alone.
Whistl saw a leap in pre-tax profit in its first full-year results since the MBO that saw it separated from its PostNL origins.
Royal Mail has admitted it expects to make a loss in this financial year and won’t return to profit unless the business is overhauled to reflect a decline in letter volumes and a boom in parcel deliveries.