Agence France-PresseMarch 25, 2014 08:43
Britain's main postal operator Royal Mail on Tuesday said it planned to axe 1,600 jobs under a fresh cost-cutting drive six months after the group was partly privatised.
Royal Mail said in a statement that most of the jobs to go would be in management, with no delivery staff losing their positions. It added that it would create "300 new or enhanced roles", resulting in a net loss of 1,300 jobs.
The changes are expected to deliver annualised cost savings of around £50 million ($82.5 million, 60 million euros), it said.