Redundancy Cover | Accident Sickness Unemployment Insurance

More than 1,700 jobs to go at Royal Mail

Royal Mail announced today that it plans to close two of its seven mail centres in London and will slash about 1,700 managerial jobs as part of its extensive cost-saving measures. Royal Mail also confirmed plans to reduce its operational line managers across the UK by up to 1,000 through voluntary means.

Royal Mail has been one of the organisations in the UK that have been cutting its staff on a regular basis. From 2002 onwards, it has cut its employees by around 65,000. It is expected that the spate of redundancies will continue to for the next few years. Significant reductions in the number of mail centres are also underway and around half of the 64 centres in 2010 could eventually close by 2016 or sooner. Unconfirmed reports say that the total redundancies in Royal Mail could be as high as 20,000 over the next few years.

Even though the internet retail is on the rise, the number of traditional letters and envelopes of smaller sizes have gone down. It is expected that the number items posted in London will halve between 2006 and 2014 and with the Royal Mail's continued investment into its modernisation, it is imperative that the requirements of staff will reduce.

On the positive side, Royal Mail said that it will invest about £69m in Greater London as part of the UK-wide modernisation programme and the working conditions will be also be significantly improved.
Stuart Boseley, Director Best Insurance said that it is sad to see the redundancies and we only hope many of the effected people have some form of insurance cover such as redundancy protection, accident, sickness and unemployment insurance which will help pay some of their monthly on-going costs. 

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