Royal Mail

Royal Mail will reduce up to 2,500 jobs focused on head-office and support functions as part of a restructure to be completed by the end of next year. The company says cuts will be achieved through natural attrition and a voluntary exit programme with no compulsory redundancies and that operational delivery and processing roles will be preserved. Management cites a more than 70% decline in letter volumes since the mid-2000s and aims to remove duplication to reinvest in services, while unions warn further cuts could follow and criticised the move. The reduction represents under 2% of the workforce and follows regulatory fines and the recent takeover by EP Group’s owner Daniel Křetínský. » More on theguardian.com

Royal Mail will increase prices for its wholesale/access postal service by an average of 25% from 5 October, with some bulk rates rising up to 36%, hitting large users such as UK Mail, Whistl, Citipost and public bodies including the NHS. The company cites rising fuel, labour and network costs, falling letter volumes and the need to sustain a nationwide service as reasons for the change. The move follows years of losses, ongoing delivery shortfalls, fines from Ofcom and a recent change in ownership to Daniel Křetínský. » More on theguardian.com

Ofcom has opened an investigation into Royal Mail after the company reported 24.3% of first-class mail failed to arrive within the one-working-day target in the year to March, a slight deterioration from 23.5% the prior year. The regulator will examine possible parcel prioritisation and any exceptional events, and may impose further fines after previous penalties totaling £37m since 2023. Royal Mail says it will engage with Ofcom and is investing £500m over five years to improve delivery performance amid operational changes and recent price rises. » More on theguardian.com