Royal Mail’s latest update showed the company continues to gain efficiency with plans to cut another 700 senior roles.

“The decline in parcel volumes year over year is only to be expected given the hard to beat comparative figures as a year earlier almost all retail stores were closed due to Covid restrictions , which means that the demand for online orders has skyrocketed.

“Perhaps more important is the fact that the company has maintained its share of a highly competitive market and it remains confident that as we emerge from the pandemic the number of packages sent will remain permanently higher, thanks to a structural change in the way people buy goods.

“It’s not all positive news. Royal Mail has seen a substantial increase in the number of complaints as deliveries have suffered major delays in recent weeks.

“In fairness, at least some of this can be attributed to a factor entirely beyond his control, as the Omicron variant has rendered many of his workers sick and unable to work.

“In streamlining the business, Royal Mail must ensure that it does not go too far and diminish its operational capacity or trigger widespread industrial action, the threat of which has plagued the business in the past. .

“Outside the UK, Royal Mail’s GLS parcels international mail division continues to make solid progress, and perhaps at some point suggestions that this part of the group could be spun off could be revived.”