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| Royal Mail to axe up to 6,000 jobs as losses rise | Royal Mail to axe up to 6,000 jobs as losses rise |
| (36 minutes later) | |
| Royal Mail has announced plans to make up to 6,000 people redundant by next August, blaming ongoing strike action and rising losses at the business. | Royal Mail has announced plans to make up to 6,000 people redundant by next August, blaming ongoing strike action and rising losses at the business. |
| The postal company said it had begun notifying workers of its plan, which aims to reduce its overall headcount by a total of 10,000. | The postal company said it had begun notifying workers of its plan, which aims to reduce its overall headcount by a total of 10,000. |
| The majority of the cuts will be made through redundancy while the rest will be achieved through natural attrition. | The majority of the cuts will be made through redundancy while the rest will be achieved through natural attrition. |
| Royal Mail also said it expects its full-year losses to hit £350m. | Royal Mail also said it expects its full-year losses to hit £350m. |
| It said this included "the direct impact of eight days of industrial action" as well as lower volumes of parcels being posted. | It said this included "the direct impact of eight days of industrial action" as well as lower volumes of parcels being posted. |
| But the firm warned that losses could reach as much as £450m "if customers move volume away for longer periods" following strike action. | |
| Royal Mail's chief executive Simon Thompson said: "This is a very sad day. I regret that we are announcing these job losses. We will do all we can to avoid compulsory redundancies and support everyone affected." | |
| The company currently employs 140,000 people. | |
| Royal Mail workers, who are members of the Communication Workers Union, this week began a fresh round of strikes over pay and conditionswhich will include 19 days of industrial action, including Black Friday. | |
| The CWU's general secretary, Dave Ward, said Royal Mail's announcement "is the result of gross mismanagement and a failed business agenda of ending daily deliveries, a wholesale levelling-down of the terms, pay and conditions of postal workers, and turning Royal Mail into a gig economy style parcel courier". | |
| But Mr Thompson said on Friday: "Each strike day weakens our financial situation. | |
| "The CWU's decision to choose damaging strike action over resolution regrettably increases the risk of further headcount reductions," he added. | |
| Mr Ward responded: "This announcement is holding postal workers to ransom for taking legal industrial action against a business approach that is not in the interests of workers, customers or the future of Royal Mail. This is no way to build a company." |