Royal Mail fined £10.5m for missing delivery targets

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The story "Royal Mail fined £10.5m for missing delivery targets" was covered 11 hours ago by BBC Business, a news publisher based in United Kingdom.

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Royal Mail fined £10.5m for missing delivery targets - BBC Business

Quick Summary:

It is the second year in a row the company has been fined by the regulator for poor delivery performance.

Ofcom said the company had blamed its poor performance on its challenging financial position, and on delays to a ballot on a pay deal following strike action by members of the Communication Workers' Union last year.

Under Ofcom's rules, the postal operator is meant to deliver at least 93% of first class mail within one working day, and 98.5% of second class post within three working days.