Royal Mail Invests $675 Million to Improve Deliveries
Royal Mail will invest $675 million to improve services. The plan shifts second-class mail to alternate days while offering more hours to 6,000 postal workers.
International Distribution Services announced on Tuesday that its subsidiary, Royal Mail, has committed to a 500 million pound ($675.25 million) investment over the next five years. This initiative is designed to modernize the universal service improvement plan and better address the evolving needs of customers throughout the United Kingdom.
The capital for this multi-year project will be generated through savings realized from reforms to the Universal Service Obligation. These regulatory changes were approved by Ofcom in July of last year, allowing the postal operator to streamline its delivery model.
