Royal Mail's parent firm has reported £748m in annual operating losses, driven by the crisis within the UK business that was dogged by strikes and poor performance.
Royal Mail said the year-long conflict with the Communication Workers Union , which culminated in its core Christmas season being largely destroyed by industrial action, cost it £200m., which the union recommended to its 112,000 members in April.
Earlier this month, Chief Executive Simon Thompson quit. The CWU had laid the blame on him for the financial hit of industrial action.at the Business, Energy and Industrial Strategy committee.Royal Mail has also since admitted it may face
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