The company - shedding £1million a day - said if a deal could not be struck with striking unions its duty to deliver to every address in Britain was in peril.
Royal Mail blames the impact of strikes by postmen and women and the continuing decline of its core business for the need to make swingeing cuts. It expects to report an annual operating loss of £350million-plus in days.
The Communication Workers Union, which represents 115,000 postal workers, is poised to announce multiple strike dates next month which could cause huge disruption over Easter.
A formal announcement is expected this week. It said: "It is clear Royal Mail Group is in a serious financial situation. This is as a direct result of mismanagement and recklessness at the most senior level of the company."
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Denne historien er fra March 29, 2023-utgaven av Daily Express.
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Blues make Marc as Guiu hits the jackpot
HAT-TRICK HERO IS QUICK TO SHATTER IRISH HOPES
Lane needs more rain
KEMPTON GROUND FEARS FOR JP'S TEAM
Festive-flavoured vapes slammed by top NHS doctor
Spike in admissions among young users
Profs win battle over smokers' wall
TWO Oxford dons have won a six-figure row with a hotel next door over a collapsed garden wall and its staff \"smoking and chatting\" too close to their home.
PoW life's such a drag for officer in panto
THE war diaries of a British PoW who became an unlikely star attraction in camp as a panto dame have come to light 79 years on.
There's NUN so good at crime fighting!
Ahead of its Christmas special, JAMES RAMPTON visits the picturesque Cotswolds set of Sister Boniface Mysteries (at the height of summer) to discover just why the Sixties-set cosy crime drama has captivated audiences all over the world
Puffin pic secures prize for teenage twitcher Anwen
THIS picture of a plaintive puffin has been picked for the top prize in the RSPCA Young Photographer Awards.
'Blast' prank by soldier ‘reckless'
A SOLDIER left colleagues with hearing loss after \"recklessly\" setting off a battle noise simulator to celebrate the end of an exercise, a court martial heard.
Vegetarian piranha and DiCaprio snake among new species
AVEGETARIAN piranha from the Amazon and a flying dinosaur found on the Isle of Skye are among the species previously unknown to science that have been named this year.
Anger over takeover of Titanic shipbuilder
Critics fear final assembly will move from Belfast to Spain
