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Royal Mail to slash 2,000 jobs in wake of coronavirus crisis
25 June 2020, 07:28
Around 2,000 jobs are being cut at Royal Mail as the group announced a management overhaul to help slash costs in the face of the coronavirus crisis.
The group said the job cuts come as part of a management overhaul under plans to save £330 million over the next two years.
The cull will affect some of its 9,700 managers, with senior executive and non-operational roles hardest hit.
Royal Mail is one of a raft of companies in the UK to announce hefty job losses due to the pandemic, including British Gas owner Centrica and airlines easyJet and British Airways.
Keith Williams, interim executive chairman at Royal Mail Group, said the firm is taking "immediate action" on costs to offset the Covid-19 impact.
He 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."
On the job cuts, he said: "We are committed to conducting the upcoming consultation process carefully and sensitively.
"We will work closely with our managers and their representatives during this difficult period."