Royal Mail boss pay soars to £7m despite profit slip Transport & Infrastructure The boss of Royal Mail’s owner has seen his pay packet almost triple to £7m in the same year that profit at the firm fell by almost a fifth. Martin Seidenberg, chief executive of International Distribution Services (IDS), saw his total pay packet jump from £2.1m last year to £6.9m in the year to March. [...]
Royal Mail owner set to return to profit in first figures since £3.6bn takeover Business The owner of Royal Mail is expected to show a return to annual earnings on Monday in the firm’s first set of results since the completion of its £3.6bn takeover by Czech billionaire Daniel Kretinsky. International Distribution Services (IDS) will post figures for the 12 months to 31 March after a milestone year for the [...]
Ofcom relaxes Royal Mail delivery targets to cut costs Business Royal Mail will be allowed to deliver first and second class letters more slowly after its delivery targets were slashed by the communications watchdog in a bid to cut costs. From the end of July, Britain’s postal service will be allowed to deliver second class letters on alternate weekdays, Monday to Friday, instead of six [...]
Royal Mail allowed to ditch Second Class Saturday deliveries January 30, 2025 This morning, regulator Ofcom has said it is proposing to scrap Second Class letter deliveries on Saturdays and reduce the service to alternate weekdays while lowering Royal Mail’s delivery targets. In a statement published this morning, titled ‘Protecting the postal service for the future,’ Ofcom said Royal Mail’s universal service agreement “urgently needs reform to [...]
Here’s what the Czech Sphinx is planning for Royal Mail July 18, 2024 EP Group will offer a legally binding guarantee that there will be no change in control of GLS or Royal Mail for three years following the acquisition.
Czech Sphinx plots £800m Royal Mail investment to topple Amazon in UK parcel war July 14, 2024 Kretinsky’s Royal Mail takeover has ignited a national security investigation with critics wary of a historic British institution falling into foreign hands.
What is waiting in business secretary Jonathan Reynolds’ in-tray? July 8, 2024 Jonathan Reynolds’ in-tray is already piling up with urgent issues. We take a look at a few of the day one problems facing the new business secretary.
Kretinsky mulls giving Royal Mail staff a stake as part of £3.6bn deal June 26, 2024 The Czech billionaire that is looking to buy Royal Mail is weighing up giving staff a stake in the business if his offer is accepted.
Daniel Kretinsky ‘ready to consider’ giving workers a stake in Royal Mail June 17, 2024 Kretinksy struck a deal with International Distributions Services (IDS), the owner of Royal Mail, late last month for £3.6bn, but it has been far from sealed.