2 weeks Ago
The Post Office plans to close 115 branches and says about 2,000 jobs are at risk as part of a plan that will result in post office operator pay increasing by £250m over the next five years. The Post Office confirmed on Wednesday that it is seeking to offload 115 branches it currently centrally owns, known as crown post offices, but said it expects to maintain the total network at 11,500 branches across the UK. The plans come against the backdrop of the public inquiry into the Horizon IT scandal, described as one of the worst miscarriages of justice in UK history.
The move puts approximately 1,000 jobs at risk, although the Post Office expects that all the branches will be refranchised to new owners over the next five years. Approximately 2,000 branches are operated by partners such as Tesco, WH Smith and Morrisons, and about 9,000 are run by independent operators that have a contract with the Post Office. The Post Office is also "streamlining" its central operations, with speculation that this will lead to about 1,000 further job cuts.
The plans also include increasing post office branch owner remuneration by £250m annually by 2030, with up to £120m in additional remuneration by the end of the first year of the five-year plan, a 30% increase in revenue share. "The Post Office has a 360-year..
. Mark Sweney.
