More than 100 Post Office branches and some 1,000 jobs are at risk under a sweeping overhaul as the group looks to boost postmaster pay by £250 million over five years. The Post Office revealed it is looking to offload 115 directly-owned branches within its 11,500 network, which could see them transferred to retail partners or postmasters, or potentially closed.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post and here's some breaking business news.
00:08More than 100 post office branches and 1,000 jobs are at risk and an overhaul as the group looks to boost postmaster pay by £250 million over five years.
00:23The post office revealed it is looking to offload 115 directly owned branches with its 11,500 network, which could see them transferred to retail partners or postmasters or potentially closed.
00:39Around 1,000 workers are employed across the branches, while the post office also confirmed that hundreds of further roles are under threat at its headquarters as it looks to streamline back office operations.
00:54My name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.