Given there's been no IA this financial year, the sick pay etc changes are all now in place, and parcel deliveries are return to pre IA levels it's hard to believe losses haven't been reduced from £1m a day.
Same with my DO very few items don't get delivered by the second attempt and most probably get delivered eventually or are collected from the CSP at the DO. You have to sense the Times reporter as put 2+2 together and just made up that suggestion. Probably a better one is that DK feels that the USO changed will be agreed within a year and they will then lead to the £300m cost savings, if they do RM will be viable as a stand alone company and then GLS could be sold off or floated probably for most of the £3.5B he's paying for IDS.
It's pretty clear OFCOM accept the USO needs changing but for some reason, perhaps because it's an election year?, they seem to be slow in making any decisions/recommendations by the time they now make one RM will probably be foreign owned.
If OFCOM can change the USO without needing Government approval then why is it now being suggested approval won't be given until after the next General Election?? Having said that it doesn't really matter if it needs approval or not as you can see whatever OFCOM recommend will be accepted by the Government.
I very much doubt West Ham simply handed over their TV money to their shareholders? They actually made an £18m loss last season so it's unlikely his shares have risen in value.
It's baffling why DK wants to mess about buying IDS/RM when EG has just made £8B profits from its energy companies. Unless he really wants to split off RM and sell it and retain & grow the very profitable GLS, I assume he was behind last year's plans by the company to split RM from GLS ?
The Government already gave VESA the green light to increase their holding to 27% (& beyond?) ..............
"The government has previously scrutinised his holding in the company but accepted an increase in his stake from 22 per cent to 27 per cent in 2022"
Where do you get your £2 per parcel from on a Sunday? Most delivery drivers are capable of delivering 10 an hour, even covering the rural routes, and I doubt we're paying staff £20+ an hour on a Sunday?
It's interesting that RM feel parcels can be profitable when Evri still manged to lose £77m last year from a £1.46 billion turn over and Yodel had to be bailed out by new owners after nearly going into Admin. Only DPD seem to be profitable in the UK.
OFCOM have already suggested that moving to a 5 day USO could save RM £200m/£250m? Not sure RM will save the full 20% of potential staff costs savings as they'll still have to pay people to deliver parcels etc on the 6th day of the week.
They haven't in my DO, Mother's Day week was totally manic, with retail sales increasing there's no real logic in packets reducing, unless the likes of Evri are taking an increasing market share. If the latest figures show packets are dropping RM is really doomed given they've helped to destroy the latters market where they really had no serious competition.
You have to sense RM are trying to kill off non business customers sending letters, particularly 1st class, as who's going to spend £1.35 to send a birthday or Christmas card in future, when you can just drop them a text/email for free? Does OFCOM have no control over what price increases RM can put though?
The pay is no longer good enough to attract family men/women added to the working conditions really only it makes the job attractive to people who can't find something better elsewhere. We've manged to loose all our Christmas agency staff this month when they realised they can't just drive around in a van delivering parcels day in, day out.