International Distributions Services renews its threat to preserve value by carving Royal Mail from the wider group, warning that its industrial relations problem is proving too costly.
The strike dates are pencilled-in for 24 and 25 November, which is Black Friday, 30 November and 1 December.AdvertisementHowever there is a sign of progress in negotiations, which resumed last week.
IDS said it still expected a full-year adjusted operating loss for Royal Mail of between £350m-£450m.Keith Williams, non-executive chairman of IDS, said:"We are now heading in a clear direction in light of the substantial losses in Royal Mail. "Accordingly, we have started to implement the change needed to rightsize Royal Mail which will ensure that it is both better placed to serve our customers' needs in parcels, as well as letters, bring it back to profitability and provide a sustainable future.
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