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UK's Ofcom revised Royal Mail delivery targets in order to manage delays

The British media regulator has announced that it has set new minimum delivery deadlines to Royal Mail in order to avoid long delays and altered some existing delivery targets, which could help the postal services save up to 578.3 millions pounds (425 million pounds).

Ofcom has fined Royal Mail $20 million for not meeting delivery targets over the past two years.

Ofcom announced on Thursday that Royal Mail is required to ensure that no more than 99% of the mail arrives two days late. Delivery targets for "First Class", however, have been reduced from 93% to 90 percent delivered the next day, and for "Second Class", from 98.5% down to 95% within three days.

(source: Reuters)