Royal Mail is to cut 2,000 jobs in a restructuring prompted by the “additional challenges” of the coronavirus pandemic.
The cuts will reduce the number of UK management roles in the business, currently totalling 9,700, by around a fifth.
They come just over a month after Royal Mail’s chief executive Rico Back quit after less than two years in the role.
The cuts are intended to deliver cost savings of £130m a year as the business struggles to adapt to changes in demand accelerated by the coronavirus crisis – with more parcels but fewer letters being delivered.
Royal Mail said they would mainly affect central and support roles rather than “field operations” as it seeks to become a “leaner, more focused company”.
As part of the shake-up, the number of senior leaders and managers in the business is being cut by half.
Royal Mail will also cut capital investment over the next two years by £300m.