Royal Mail to cut up to 2,500 jobs under Czech billionaire Křetínský

Britain's postal service Royal Mail, owned by Czech billionaire Daniel Křetínský, plans to cut up to 2,500 jobs by the end of 2027. This was reported by Bloomberg.

The cuts will affect head office and support staff. Postmen and couriers, the company stresses, will not be hit by redundancies.

Royal Mail attributes the decision to falling letter volumes and the reform of the universal postal service. According to the company, the reduction will come through natural attrition and voluntary departures rather than mass layoffs.

Royal Mail currently employs more than 131,000 people, so the planned cuts amount to nearly two percent of its workforce. Chief executive Alistair Cochrane said the proposed changes would remove duplicated functions and allow the company to invest in its services.

The news comes less than a year after Daniel Křetínský's EP Group took over Royal Mail for £3.6 billion (more than CZK 103.6 billion). Now the owner has to show how he intends to put the legendary but struggling British postal service on a new path of growth.