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Royal Mail pledges £500 million investment to overhaul service after regulator's £37 million fine, aiming to meet new delivery targets by May. | Contesto: cronaca

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• Wage growth hits lowest level since November 2020; Rachel Reeves will not take ‘knee jerk’ action on Iran war - business live

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Royal Mail has committed to a £500 million, five-year investment plan to fundamentally overhaul its UK delivery service, following a £37 million fine from the communications regulator Ofcom for consistently failing to meet its delivery targets. The company stated it is now working toward meeting new postal delivery standards by May of next year, a timeline that follows its agreement to implement changes including the cessation of Saturday deliveries for second-class mail. The announcement represents the postal service's formal response to mounting regulatory pressure and public dissatisfaction with its performance. The substantial fine and subsequent investment commitment stem from a prolonged period where Royal Mail failed to deliver what customers expect and deserve, according to Ofcom. The regulator had been explicitly calling for the company to publish a credible, investment-backed strategy for improvement. "We recognise our service hasn’t always been the standard our customers rightly expect and we’re determined to do better," a Royal Mail statement read. "The plan we’ve set out today shows how we’ll make a step change in performance across the UK." Ofcom's response to the published plan was cautiously pragmatic, emphasizing that publication alone is insufficient. "Now that’s published, Royal Mail needs to get on and implement it," a regulator spokesperson said. "Their plan must deliver significant and continuous improvement, with performance getting back on track." The fine, one of the largest ever imposed on Royal Mail, underscores the severity of the service failures that prompted the regulatory action. The company's commitment now shifts the focus from financial penalty to operational execution. The Communication Workers Union (CWU), representing postal workers, acknowledged the proposal but stressed that tangible change for its members is the critical metric. "We welcome any serious proposal that seeks to reverse customer service failings at Royal Mail, but what really matters is what happens on the ground to make that change happen," a union representative stated. "Postal workers remain committed to delivering for the communities they serve, but they...

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Categoria: cronaca