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04/10/2001
Consignia could axe further jobs over ‘financial crisis’
Consignia, the firm that operates the Royal Mail services, could be about to cut hundreds more jobs in an attempt to avoid moving into the red.
An internal memo has revealed that Consignia is to implement a strategic shake-up of operations to reduce costs by as much as £1 billion.
While an official announcement has yet to be made, Consignia has stated that it will be seeking the co-operation of trade unions over the issue during the coming weeks, with press reports estimating that 10 per cent of staff in some divisions could be made redundant.
The company has warned of an impending ‘financial crisis’ with profits during 2000 coming in £88 million under target. Consignia has cited various factors for the underperformance, including the adverse trade effect of market deregulations.
However, deputy general secretary John Keggie has commented: “The Department of Trade and Industry must ask how a business that was profitable for 20 years before commercial freedom was granted is now in such a financial mess.”
The news comes only months after Consignia axed 2,100 staff in managerial and administrative departments as part of a policy review “for managing surplus staff in a fast-moving and highly competitive world." (CL)
An internal memo has revealed that Consignia is to implement a strategic shake-up of operations to reduce costs by as much as £1 billion.
While an official announcement has yet to be made, Consignia has stated that it will be seeking the co-operation of trade unions over the issue during the coming weeks, with press reports estimating that 10 per cent of staff in some divisions could be made redundant.
The company has warned of an impending ‘financial crisis’ with profits during 2000 coming in £88 million under target. Consignia has cited various factors for the underperformance, including the adverse trade effect of market deregulations.
However, deputy general secretary John Keggie has commented: “The Department of Trade and Industry must ask how a business that was profitable for 20 years before commercial freedom was granted is now in such a financial mess.”
The news comes only months after Consignia axed 2,100 staff in managerial and administrative departments as part of a policy review “for managing surplus staff in a fast-moving and highly competitive world." (CL)
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