Stuart Simpson: Stamp Price and Management Layers

stuart simpson: We are going to be looking at all the levers that we have across revenues and cost cutting said Stuart Simpson, the chief financial officer at Royal Mail, when asked directly about stamp price rises in a hastily organised conference call, according to The Guardian. Simpson also suggested jobs could be axed We are also looking at management layers, head office structure and all discretionary spending. Investors sent shares in the post and parcels group down almost 18% as the company refused to rule out higher stamp prices to rebuild profits. We are doing a full portfolio review. The company blamed a combination of factors, including a bigger than expected slump in marketing mail as a result of GDPR, the new EU regulations that put tighter controls on the gathering and storage of personal information, which has hit the amount of unsolicited or junk mail sent out. Royal Mail bosses wake up late to failed delivery of cost savings Nils Pratley Read more Royal Mail slashed its profits guidance for this year to 500m- 550m, compared with 694m last year. (news.financializer.com). As reported in the news.