What to know about the Royal Mail changes effective from now
Delivery targets for both first and second-class post have been relaxed, though Ofcom has introduced a new enforceable backstop to ensure 99% of mail arrives within two days of the target.
Regulator Ofcom states these reforms are crucial for Royal Mail's survival, aiming to cut annual costs by £250 million to £425 million due to declining letter volumes.
The changes follow Royal Mail's £348 million loss in 2023-24 and recent fines for poor performance, with a review into stamp prices also planned.
While criticised by consumer and business groups, the overhaul comes after Czech billionaire Daniel Kretinsky's EP Group completed its £3.6 billion takeover of Royal Mail owner IDS.
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