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Evening Standard
Evening Standard
Business
Michael Hunter

Royal Mail reveals £200m cost of strikes as revenue dives

Royal Mail CWU Covid-19

Royal Mail is locked in a long-running dispute with its main union (Victoria Jones/PA)

(Picture: PA Wire)

The owner of strike-ravaged Royal Mail today revealed the scale of the devastating impact of industrial action on its profits after strikes brought chaos to the peak Christmas parcel and card delivery season.

International Distribution Services said 18 days of industrial action by postal workers —  including seven in the run-up to Christmas — cost it around £200 million in the nine months to the end of December. Parcel volumes fell by a fifth, taking revenue from that part of the business down by almost 18% year-on-year. Its overall loss for the period reached £295 million.

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