Whistl suspends post delivery service putting 2,000 jobs at risk

Private postal business Whistl – formerly known as TNT – has suspended its door-to-door delivery service in London, Liverpool and Manchester and is consulting 2,000 workers on redundancy.

The move follows a decision last month by potential investment partner LDC not to fund its expansion plans.

Whistl will continue to provide a service, but will revert back to using the Royal Mail for the “final mile”.

Shares in Royal Mail rose 3.3% after the news was announced.Last month, LDC, a division of of Lloyds Banking Group, decided against investing in Whistl because of “ongoing changes in UK postal market dynamics and the complexity of the regulatory landscape”.

At the time, Whistl said it would hold back from expansion but planned to continue its existing service.

Source: Whistl suspends post delivery service putting 2,000 jobs at risk – BBC News