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Whistl Terminate Services
Whistl, the Dutch-owned firm has suspended deliveries starting last month; this is due to the reason of lack of funding. Although it has been delivering a staggering number of 3 million letters every week in three cities, this makes them direct competition with Royal Mail.
The private equity of Lloyds bank has decided not to invest, this is now triggered a review into the situation.
The parent group PostNL has been quoted that the firm has begun a discussion with affected staff “to minimise the impact of the decision”.
Although it has lost funding the company will still provide the service of collecting 80 million postal items which will be fed and delivered using the royal mail service.
PostNL released a statement in which they announced “Following the termination of the discussions on the proposed investment in Whistl UK to fund the further rollout of its current end-to-end (E2E) activities, we have assessed alternative scenarios for Whistl’s E2E operations”
Whistle employs around 1,800 workers through the use of zero-hour contracts, and still remains the second largest postal service in the UK.
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