Global Crossing (NYSE: GX) has begun the implementation of a fully managed wide area network for the Royal Mail in the UK under a contract with Lockheed Martin Integrated Systems worth an estimated GBP23 million. Royal Mail is the nationwide postal service operated by holding company Consignia.
Read MoreThe Royal Mail last night issued a fresh warning of heavy job losses amongst its 200,000 staff after its parent company Consignia crashed to a £281million loss for the first half of the year. Neville Bain the Chairman of Consignia said that the escalating losses underlined the urgency of achieving the £1.2billion cost savings announced this summer.
Read MoreINCREASING labour costs, poor industrial relations and unimaginative leadership have contributed to the “appalling” losses announced by Consignia, the Post Office consumer watchdog said last night.
Peter Carr, the chairman of Postwatch, delivered a scathing verdict on the performance of Consignia’s management and said that a change at the top was the company’s only chance of returning to profit.
Read MoreThe Royal Mail could face legal action after failing to make daily deliveries to thousands of homes around the country. Postwatch has sought legal advice because Consignia is failing in its duty as set out in section 58 of the Postal Services Act 2000.
Read MoreConsignia today announced a half year operating loss of £100 million before exceptional items, compared to a restated loss of £20 million for the same period a year ago. After accounting for exceptional items, the post-tax loss for the half year is £281 million, compared with a £113 million loss (restated) for the previous half year.
Read More
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
