Whistl jobs at risk and door-to-door service suspended
Whistl - which used to be TNT - have announced that they're having a rotten time of it, which will be music to the ears of rivals such as Royal Mail, who will have opened a celebratory packet of Fox's Classics this morning.
So what's going on? Well, around 2,000 jobs are at risk and the delivery company suspended their door-to-door letter delivery service.
This all follows the withdrawal of Whistl's private equity backer LDC, who pulled out of funding a rollout by the company. The company delivered one in every four letters in the Liverpool and Manchester area, but not any more.
The Royal Mail complained about these rivals, saying that while they cherry-picked which areas they wanted to deliver to, they had to sustain their Universal Service Obligation.
In a statement, Whistl said: "Following the announcement from LDC that it would not proceed with the proposed investment to fund further rollout of E2E, we have now commenced an extensive review of the viability and potential for the rollout of an E2E postal delivery service in the UK."
"To stem the losses from the operations we have taken the difficult decision to suspend the current E2E service during the review process and all mail will now be delivered through our long-standing downstream access service until we have concluded the review."
"As part of this extensive review, we will begin consultations with the relevant employees who are affected by the suspension of the E2E service, and with their union representatives, with a view to identifying and exploring viable proposals to secure the continuation of this service."