Royal Mail to cut 2,000 Management Jobs | UK Market Update

  • Jun 25, 2020 BST
  • Team Kalkine

Royal Mail plans to cut 2,000 management jobs, as it struggles to deal with the effects of the pandemic. The mail service was already facing challenges before the pandemic. The company said the coronavirus outbreak had accelerated the trends of more parcels and fewer letters being sent. Royal Mail said it had not adapted quickly enough to that change in the market.

EasyJet has launched a £450m rights issue to shore up its cash reserves in the face of the Covid-19 crisis. The airline made a pre-tax loss of £353m, compared with £272m in the same period in 2018-19, but said £160m of the deficit was down to hedging against fluctuations in fuel prices, which backfired as fleets were grounded in the spring. EasyJet has already raised £1.7bn in additional funding during the crisis and expects to have a cash balance of more than £3bn after the placing – enough to survive a nine-month grounding, according to its latest estimates of cash burn.

Jet2 and Eurostar have announced that they will be cancelling some summer flights and trains in 2020 and 2021 due to the coronavirus pandemic. Eurostar is cutting direct services to three French cities due to lack of demand and difficulties implementing protection measures on long journeys. Separately, pilots union Balpa has said that airline Jet2 is to make 102 pilots redundant. The airline will be reducing its flying programme for 2020 and 2021.

#RoyalMail #joblosses #UK #Kalkine

 


Disclaimer
The video has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above video is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?

Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.

We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.

To know more about these dividend stocks, click here

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK