ROYAL MAIL TO CUT 2,500 JOBS

LONDON, OCTOBER 7 /SRNA/ - British postal service Royal Mail has announced plans to reorganize its operations, resulting in the elimination of 2,500 jobs involving office managers and logistics positions by the end of next year.

The company said in a statement that it was undergoing "significant change" as it implements reforms to the service and adapts to rapidly changing market conditions.

Letter volumes have fallen by more than 70 percent from their peak, while demand for faster and more convenient parcel delivery is increasing.

"As part of the transformation programme, Royal Mail is simplifying its business processes and functions and announcing proposals for organizational changes affecting office management and logistics," the statement said.

Royal Mail official Alistair Cochrane stressed that the company had been working hard to reduce costs and simplify processes across all areas of the business because it wanted to succeed in a highly competitive market.