Royal Mail Faces £120m Budget Impact, Warns of Price Hikes and Job Cuts

The postal service cites increased national insurance costs and calls for urgent reforms to universal service obligations as it navigates financial strain.

Royal Mail's parent company, IDS, reports a £134m write-down linked to increased national insurance contributions from the Chancellor's recent budget.
The company warns of potential price increases and job cuts to offset the projected £120m annual cost hike starting in 2025.
Royal Mail is calling for reforms to its universal service obligations, including a review of its six-day delivery mandate, to address rising costs and operational challenges.
The proposed £3.6bn takeover of Royal Mail by Czech billionaire Daniel Kretinsky is under government review, focusing on national security and service commitments.
Despite financial pressures, IDS narrowed its losses in the first half of the year, reporting a £61m operating profit before one-off charges, with revenues rising by 11%.