Royal Mail to cut 2,000 jobs

Royal Mail to cut 2,000 jobs

One of the world’s oldest postal companies, Royal Mail, is planning to cut 2,000 jobs by 2021, as it struggles to deal with the effects of the coronavirus crisis.

The company said it plans to save 130 million pounds ($161.59 million) in staff costs next year and cut 300 million pounds in capital spending, the first stage of a three-step revival plan.

Royal Mail said the pandemic accelerated the trend of more parcels and fewer letters being sent, and it had not adapted quickly enough to that.

The job losses will hit senior roles hardest, with half of them set to go, and will mainly fall on “back-office” jobs, including finance, commercial and IT.

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