Royal Mail threatens to split up business as it reports losing £1m a day

Warning comes amid falling revenue and parcel volumes, and what could be the biggest strike of the summer

Royal Mail has reported it is losing £1m a day and has threatened to split if it cannot achieve “significant operational change”, as it faces what could be the biggest strike of the summer.

The day after the Communication Workers Union (CWU) announced thousands of Royal Mail workers had voted in favour of industrial action, the company said it was considering all options, including separating its domestic and international businesses under a rebranded holding company called International Distributions Services.

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