No Result
View All Result
Success American Investors
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Success American Investors
No Result
View All Result
Home Investing

Royal Mail hopes to end Saturday letter deliveries as Ofcom sees advice on potential £225m savings

by
September 5, 2023
in Investing
0
Royal Mail hopes to end Saturday letter deliveries as Ofcom sees advice on potential £225m savings
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Royal Mail is hoping to end Saturday letter deliveries after the postal regulator called for evidence on how its services might change as the popularity of paper post continues to fall.

Ofcom, which has previously estimated Royal Mail could save up to £225m annually by dropping Saturday delivery and conducted research that found consumers were “largely indifferent” to the idea, is beginning a process to establish how services “might need to evolve to better reflect the changing needs of postal users”.

In November, Royal Mail asked the government to let it stop Saturday deliveries, saying letter volumes had fallen by 60% since their peak of 20bn annually in 2004-05 to 7bn in 2022-23.

Royal Mail, which made a £419m loss last year, has said it may have to make widespread job cuts this year if it cannot restructure its business.

In June, the government, which has to grant permission for any changes to Royal Mail’s universal service obligation (USO) introduced at privatisation in 2013, said it had “no plans” to change them.

“The universal service has been unchanged since the implementation of the current framework under the Postal Services Act 2011,” Ofcom said on Tuesday.

“However, consumer demand for postal services has changed substantially, and continues to do so. So, Ofcom is gathering evidence on how the universal service might need to evolve to more closely meet consumer needs.”

Ofcom said it would set out detailed evidence later this year, including “potential options for change in the future and how these might be managed to ensure smooth transition to any future arrangements”.

Royal Mail said the USO, which requires it to deliver letters to all 32m UK addresses six days a week on a one-price-goes-anywhere basis, is “outdated and in need of urgent reform”.

A spokesperson said: “We welcome that Ofcom is looking at options for the future of the USO and the recognition that it needs to evolve to reflect the changing needs of postal users.

“Being required to provide a service that customers have said they no longer need, at significant cost to Royal Mail, increases the threat to the sustainability of the USO.

“We want to work with all stakeholders including Ofcom, government, our unions and our customers to enable change quickly and to protect the long-term sustainability of the one-price-goes-anywhere universal ervice.”

Read more:
Royal Mail hopes to end Saturday letter deliveries as Ofcom sees advice on potential £225m savings

Previous Post

Barbara Corcoran’s Triumph Over Dyslexia: A Powerful Business Success Story

Next Post

“National Greatness” Is Not the Appropriate Response to “Wokeism”

Next Post

"National Greatness" Is Not the Appropriate Response to "Wokeism"

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest
Vertica: The new Israeli start-up challenger to Viagra proving ‘life-changing’ for men with ED

Vertica: The new Israeli start-up challenger to Viagra proving ‘life-changing’ for men with ED

February 14, 2024

Last Day to Give in 2023!

December 31, 2023
Idaho Bucks Managed Care Trend

Idaho Bucks Managed Care Trend

December 5, 2023

The Producer Price Index

September 9, 2023

Unlocking Potential: Maximizing Gains for XRP Holders in 2025 with Fash Hash Cloud Mining for a $5000 Daily Profit

0

0

0

0

Unlocking Potential: Maximizing Gains for XRP Holders in 2025 with Fash Hash Cloud Mining for a $5000 Daily Profit

June 1, 2025

The Southern Cause: What Led to Secession

May 31, 2025

“Our Marx”: The Great Herbert Spencer

May 31, 2025
UK steel industry faces fresh crisis as US tariff jumps to 50%

UK steel industry faces fresh crisis as US tariff jumps to 50%

May 31, 2025

Recent News

Unlocking Potential: Maximizing Gains for XRP Holders in 2025 with Fash Hash Cloud Mining for a $5000 Daily Profit

June 1, 2025

The Southern Cause: What Led to Secession

May 31, 2025

“Our Marx”: The Great Herbert Spencer

May 31, 2025
UK steel industry faces fresh crisis as US tariff jumps to 50%

UK steel industry faces fresh crisis as US tariff jumps to 50%

May 31, 2025

Disclaimer: SuccessAmericanInvestors.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 SuccessAmericanInvestors. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 SuccessAmericanInvestors. All Rights Reserved.