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13/06/2002
Consignia to axe 17,000 jobs as losses reach £1.1bn
Under fire UK postal group, Consignia has announced losses of £1.1bn for the latest financial year, which will mean a further 17,000 jobs are set to be shed over the next three years.
The company has also said it is to drop the name Consignia, and will revert back to the Royal Mail moniker.
This latest restructuring plan follows on from 15,000 job cuts unveiled earlier this year. However, it is unclear at present how Northern Ireland will be affected by this latest set of cuts.
In a further move the company said would save around £350 million-a-year by scrapping the second post delivery.
The company said that most of the £1.1bn loss was due to exceptional costs from its restructuring programme. But Consignia still managed to lose £318 million in day-to-day operations, which it said was equivalent to a £1.2 million loss every trading day.
Consignia said it expected to offer those workers whose jobs are to go a choice between redeployment elsewhere in the business or a voluntary redundancy package.
However, the Communication Workers Union (CWU) said it could not accept the level of job losses, saying "indiscriminate" shedding of staff could threaten the universal postal service.
(MB)
The company has also said it is to drop the name Consignia, and will revert back to the Royal Mail moniker.
This latest restructuring plan follows on from 15,000 job cuts unveiled earlier this year. However, it is unclear at present how Northern Ireland will be affected by this latest set of cuts.
In a further move the company said would save around £350 million-a-year by scrapping the second post delivery.
The company said that most of the £1.1bn loss was due to exceptional costs from its restructuring programme. But Consignia still managed to lose £318 million in day-to-day operations, which it said was equivalent to a £1.2 million loss every trading day.
Consignia said it expected to offer those workers whose jobs are to go a choice between redeployment elsewhere in the business or a voluntary redundancy package.
However, the Communication Workers Union (CWU) said it could not accept the level of job losses, saying "indiscriminate" shedding of staff could threaten the universal postal service.
(MB)
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