Soaring inflation, cost of living crisis and falling demand for Covid-19 test kits sees Royal Mail lose “£1m a day”


 

High inflation, the cost of living crisis and a fall in demand for Covid-19 test kits have seen Royal Mail’s total parcel volumes plummet, with the company currently losing £1m a day, according to Keith Williams, chair of Royal Mail. The Board is warning that if “significant changes” are not achieved it will considering separating Royal Mail and GLS. It has also announced the holding company Royal Mail is to be renamed International Distributions Services to reflect the group structure […]