On Friday the British government announced plans to privatize part of the state-owned company Royal Mail. The plan for legislation came after an independent review that said the company was facing large challenges and would need private investment to survive. The report cited falling mail volume, low efficiency and pension issues as key problems for Royal Mail. The government had previously planned to sell part of the company, but halted plans because of the market and union opposition. A spokesman for the Communications Workers Union said that privatization would only harm the company, which employs around 155,000 people.
See "UK plans Royal Mail sell-off, unions angry", Keith Weir, Reuters, September 9, 2010