UK's Royal Mail plans to cut up to 2,500 jobs by end-2027

Royal Mail Announces Plans to Cut Up to 2,500 Jobs by End of 2027

Royal Mail's Restructuring and Job Cuts

Details of the Planned Job Reductions

Oct 7 (Reuters) - Royal Mail said on Wednesday it plans to cut up to 2,500 head office and support jobs by the end of 2027 as part of a restructuring, affecting less than 2% of its more than 131,000 employees.

Impact on Employees and Frontline Roles

The company, part of International Distribution Services, said the changes would be done through natural attrition and voluntary redundancy and would not impact frontline roles, including posties and drivers.

Reasons Behind the Overhaul

The job cuts come as the group overhauls its operations post regulatory pressure and scrutiny over missed delivery targets.

Executive Statement on the Changes

"These proposed changes remove duplication and allow us to invest further in the service we deliver for our customers," Chief Executive Alistair Cochrane said in a statement.

Future Plans and Union Consultations

Universal Service Reform and Declining Letter Volumes

Royal Mail said the review aims to speed up decision-making as it implements Universal Service reform amid a decline in letter volumes of more than 70% since their peak.

Consultation with Unions

The more than 500-year-old Royal Mail, whose iconic red post boxes with the Royal Crest dot Britain, said it has briefed unions the Communication Workers Union and Unite CMA, with formal consultation now underway.

(Reporting by Raechel Thankam Job in Bengaluru; Editing by Janane Venkatraman and Nivedita Bhattacharjee)