Royal Mail to cut up to 10,000 roles, blaming strikes and lower parcel volumes

Postal service expects operating loss of about 350m in year to end of March, which could rise to 450m

Royal Mail said it may need to cut up to 10,000 roles by next August, blaming strike action by its workers and the continuing decline of its core business.

In an unscheduled trading update a day after Royal Mail workers staged a 24-hour strike over pay and conditions, its parent company International Distributions Services said thousands of roles would have to go at Royal Mail because of damage and disruption caused by industrial action, as well as declining parcel volumes.