Up to 20,000 Royal Mail workers could lose their jobs after the organisation posted an almost $200 million loss in delivery payments.This marks the worst year in almost a decade for the British postal service.
According to the Telegraph, Britain has seen a 20 per cent decline in parcel deliveries from five years ago and expects declines of another five per cent per year.
Over 65,000 Royal Mail employees have left service since 2002, including 5,500 in the past 12 months as the number of mail outlets is cut in half from 64 to 32 locations.
The U.S. Post Office lost $2.2 billion in the first quarter of 2011 alone and expects to lose at least $42 billion over the next four years. Both organisations are struggling to adapt to a depressed economy, private parcel delivery services, and the public ‘s general shift from traditional mail.
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