The company has been severely hit by the Post Office scandal which saw hundreds of sub-postmasters wrongly prosecuted after a faulty IT system made it appear that money had gone missing
The BBC has reported that the Post Office is considering a major overhaul of its loss-making operations, which could see over 100 company-owned branches shut down and hundreds of head office roles at risk. The restructuring plans being mulled by Post Office chairman Nigel Railton include the potential closure of 115 unprofitable branches, with the livelihoods of many employees hanging in the balance.
Presently, retailers such as the Co-op and WHSmith run approximately 2,000 Post Office outlets. The Post Office has indicated that any cost savings from these changes would be reinvested into the business, aiming to boost postmasters' earnings and fund technological advancements like cash counting and self-service machines to enhance efficiency, as per the Sun.
The new chairman of the Post Office, Nigel Railton, who was appointed earlier this year after his predecessor was dismissed, is set to update staff on Wednesday about the results of a review initiated shortly after he assumed his role. The review was started to identify areas where fundamental changes are needed across the country.
The company has been severely impacted by the Post Office scandal, which saw hundreds of sub-postmasters wrongly prosecuted due to a faulty IT system that suggested money had disappeared. The ongoing inquiry has revealed evidence suggesting that senior figures within the company were aware of the fault but concealed it, resulting in numerous postmasters being convicted.
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