The company that runs Britain’s postal service is reportedly to shed 15,000 jobs over the next three years.
The lay-offs come as part of a £1.2 billion sterling rescue package in which the lossmaking Parcelforce Worldwide business will be scaled down.
Consignia anticipates saving £460 million from the first round of measures aimed at reversing daily losses of £1.5 million.
The move will result in 6,700 Parcelforce staff from a total workforce of 11,700 people losing their jobs in the next two years.
Consignia chairman Mr Allan Leighton described the package as "common sense re-engineering" and says the firm is in a perilous position.
Consignia - which operates Royal Mail, Parcel Force and the post office network - is likely to offer voluntary redundancies.