Royal Mail announces £120 million modernisation plan

Royal Mail has announced that it is to pump £120 million of investment into the company as part of an initiative to further modernise the company.

The investment will add to the £800 million that has already been spent on the mailing organisation in an effort to ensure it remains competitive in a rapidly changing industry.

Investment will go towards purchasing new equipment such as handheld tracking devices, vehicles and electronic trolleys that are designed to ensure postal workers are not at risk of injury while handling letters, parcels and packages.

Mark Higson, Royal Mail managing director, commented: "We're investing for a positive future, both for our customers and our people.

We know that traditional letter volumes are now falling by up to ten per cent annually, and we're absolutely focused on the need to create an operation which gives us the very best chance of winning packets and parcels business in an intensely competitive marketplace."

He added that the company was working hard to streamline services and make the tracking of postal deliveries more accurate.

The Communication Workers Union is expected to announce further strike action by Royal Mail workers over the next few days.