Operating losses have reached £295 million in the first nine months of its year so far.
Royal Mail has revealed the cost of strike action in a bitter dispute over pay and conditions has reached around £200 million, helping pushing the business to a hefty operating loss.
But Royal Mail said its outlook for the full year was based on no more strikes in its fourth quarter and on the Communication Workers Union accepting its “best and final” pay offer. Royal Mail’s owner is slashing costs and jobs under a swingeing overhaul of the letters and parcels arm. The group faces mounting pressure on a number of fronts, with bosses under fire over their tactics in the dispute, as well as a cyber attack that left it unable to send international parcels.
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