Britain's Royal Mail to cut 1,700 jobs
Britain's postal service the Royal Mail said Monday it would slash 1,700 jobs and close two mail centres in the latest round of cuts in a service which could be heading for privatisation.
Royal Mail has reduced its workforce by around 65,000 since 2002 as traditional postal services lose ground to email.
In the latest moves, two mail centres in London are set to close with the loss of 700 jobs, while 1,000 managers' positions will be cut.
"With the number of postal items posted in London expected to more than halve between 2006 and 2014, it is imperative that Royal Mail continues the modernisation programme," the company said in a statement.
Britain's Business Secretary Vince Cable gave details in October of a bill designed to clear the way for Royal Mail's privatisaton and said private buyers would be allowed to own up to 90 percent of the company.
© 2011 AFP