Cuts could put small POs out of business

[TrueBlueTerrier]

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Royal Mail has sounded the death knell for thousands of post offices by slashing their income by up to £30million.

The UK's 9,000 sub-postmasters have accused bosses of "putting a gun to their heads" by forcing them to work for less money for the second year running.

They are facing the cuts despite the Post Office raking in record profits of £62million last year and paying out £10million in bonuses.

In a letter to Royal Mail chairman Donald Brydon, seen by the Mirror, George Thomson, leader of the National Federation of Sub-Postmasters, says his members, whose pay fell by £24million in the last financial year, are being treated like "second-class citizens".

Workers at the 370 Crown post offices will not be hit by cuts, but sub-postmasters will suffer another freeze in their fixed income and have their commission slashed by up to 66%, reducing their earnings in real terms by a further £6million this year.

Mr Thomson said the cuts could kill off branches that are struggling. He believes management is exploiting the fact most sub-postmasters are self-employed and therefore in no position to strike. Alan Cook, who ran the Post Office until the end of last month, is believed to have pocketed a £1million bonus. Royal Mail chief executive Adam Crozier, who takes over ITV today, is said to have left with £2million.

[POSTMAN]

Is this company on a wind up?