10,000 jobs axed | Royal Mail's mass redundancy plan will be a huge test of HR's mettle

Royal Mail has announced it will be slashing its workforce by around 10,000 in the coming months, blaming recent worker strikes and financial difficulties for its recent poor trading performance.

The firm said 5000-6,000 of the jobs will be axed via a redundancy process, while the remaining 4,000 will be reduced by not replacing workers who leave the company. The process is expected to be completed by August 2023.

Royal Mail's chief executive Simon Thompson said: "This is a very sad day. I regret that we are announcing these job losses. We will do all we can to avoid compulsory redundancies and support everyone affected."

Royal Mail also said it expects its full-year losses to hit £350million and blamed "the direct impact of eight days of industrial action" as one of the main factors behind its financial difficulties.