Royal Mail announces 1,700 jobs to be cut
Business digest: Spiralling mail volumes and huge debt force UK national postal company to axe jobs and mail centres
Royal Mail has announced that it is cutting just over 1,700 jobs and closing two mail centres as it battles to survive in the face of falling postal volumes and an £8.4bn pension debt.
751 positions will be axed in London, as well as a further 1,000 managerial roles across the UK. Royal Mail has already cut 65,000 jobs since 2002 in the struggle to modernise.
The closure of two of its seven London mail centres, in Bromley-by-Bow and Nine Elms Lane, will begin immediately. It also said that it might have to shut down around half of its 64 nationwide centres by 2016.
The company expects the number of postal items posted in London alone to more than halve between 2006 and 2014.
Read a full report at the Daily Telegraph.