Under fire Royal Mail sees profits slide 30pc

ROYAL Mail boss Moya Greene has warned that the company ‘ cannot ignore change’ as she grapples with union chiefs ahead of Christmas.

The Canadian said resolving an industrial dispute over pensions and pay was her top priority and called for a return to ‘peacetime’ relations with the Communication Workers Union.

Her comments came as the firm revealed lay- offs and modernisation schemes had hit profits, despite strong growth in its parcels business.

Profits fell 30pc to £77m in the six months to September 24, compared to the same period last year.

Parcel volumes rose 6pc and revenue was up 5pc, helping overall revenues to rise by 2pc to £4.8bn.

Letter volumes dropped by 5pc, and 3pc in revenue.

Modernisation, including shedding 1,500 staff, cost it £63m but unions accuse Royal Mail of ‘maximising profits for shareholders’.

Greene said: ‘ We had seven-and-a-half years of industrial peacetime before and I would like to see us get back to that. We are trying to make changes in reasonable ways. We need everyone to put their shoulder to the wheel.’