Postal service Royal Mail has asked the UK Government to cut their letter service to five days a week in an early move, after strike action left the company with huge losses.
CEO Simon Thompson has vowed to do "whatever it takes" to turn the numbers around, reports Wales Online. This news comes after half-year results showed that Royal Mail have hit £219 million underlying operating loss in the 26 weeks to September 25, against earnings of £235 million a year ago.
The group have stated that the three days of strike action in the first half cost Royal Mail approximately £70 million. A further five days action in October has cost them around another £30 million.
