Royal Mail PLC (GB:IDS) has released an update.
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International Distributions Services plc, managing Royal Mail, has outlined a proposal for a modernized Universal Service Obligation (USO) aimed at improving efficiency and financial viability amid a decline in letter volumes. The proposal, which seeks reforms including a more efficient delivery model and voluntary redundancies, could save up to £300 million annually. The company is pressing Ofcom for a swift review and consultation on the proposed changes to better align with customer needs and ensure the service’s sustainability.
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