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| Version 1 | Version 2 |
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| Royal Mail set to cut 2,000 management jobs | Royal Mail set to cut 2,000 management jobs |
| (32 minutes later) | |
| Royal Mail is to cut 2,000 management jobs, about a fifth of its managers, as it struggles to deal with the effects of the coronavirus crisis. | Royal Mail is to cut 2,000 management jobs, about a fifth of its managers, as it struggles to deal with the effects of the coronavirus crisis. |
| The postal service was already facing challenges before the pandemic. | The postal 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. | 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. | Royal Mail said it had not adapted quickly enough to that change in the market. |
| The job cuts will mainly fall on so-called "back-office" roles, including finance, commercial and IT. | The job cuts will mainly fall on so-called "back-office" roles, including finance, commercial and IT. |
| Royal Mail currently has about 9,700 managers, and the job losses will hit the most senior roles hardest, with half of them set to go. | Royal Mail currently has about 9,700 managers, and the job losses will hit the most senior roles hardest, with half of them set to go. |
| Frontline postal staff are unlikely to be affected because Royal Mail needs to preserve "quality of service", a spokesman said. | Frontline postal staff are unlikely to be affected because Royal Mail needs to preserve "quality of service", a spokesman said. |
| The business has faced challenges for a number of years, and former chief executive Rico Back made a surprise exit from the business in May. | |
| Royal Mail said that the planned job cuts, which it wants to make by March 2021, would save £130m on "people costs". | |
| It did not pay a dividend to shareholders in 2020, and said in a statement to investors on Thursday that it would not pay a dividend in 2021 either. | |
| In the year to March 2020 it made a profit before tax of £180m, down from £241m the year before. |