The administrators of City Link have announced 2,356 redundancies after a deal to keep the delivery firm afloat foundered.
A statement from Ernst & Young said the jobs would be shed at all of the companies UK sites. A workforce of just 371 will remain to process parcels still in the network and to help wind down operations.
Ernst & Young said that an offer for the firm had been made by a consortium "which offered no money up front" and that no deal had been reached.
The joint administrator of City Links said in a statement that all staff affected by the redundancies had been informed and would receive advice on making claims for redundancy and notice pay:
It is with regret that we have to announce substantial redundancies at City Link Limited, which ceased accepting new parcels on 24 December 2014. The Company endured substantial losses, which ultimately became too great for it to continue as a going concern, and City Link Limited entered administration following an unsuccessful sale process.
At meetings across City Link Limited’s UK sites on Monday 29 December 2014 and Tuesday 30 December 2014, employees were informed that there would be substantial redundancies as no new business was being taken on. Many of these employees were sent home, and informed that they would shortly receive formal correspondence to confirm their work status.
Workers facing redundancy from collapsed courier firm City Link were offered hope today after it was claimed there had been a "credible bid" to save part of the business.
Staff at the company, many of whom learnt of its collapse on Christmas Day, have been warned to expect "substantial redundancies" among its 2,727-strong workforce.
But they were offered a small degree of hope after Mick Cash, general secretary of the RMT union, disclosed unconfirmed details of a possible rescue, with Business Secretary Vince Cable said to be aware of developments.
Mr Cable's department said queries about the potential bid should be made to administrators at EY. EY did not immediately have a response to the RMT's claim.
Today will be the last day of work for hundreds of City Link employees in Bristol.
The parcel delivery company went into administration on Christmas day. It has a large depot at Cribbs Causeway. Some members of staff will be kept on to deliver the 40,000 parcels remaining at depots across the country.
The number of people hitting the region's shops this Christmas has increased - according to figures released today.
In the days leading up to the festive period, footfall at one of Bristol's biggest shopping centres was up 7% on last year. Sales figures are also expected to be positive. Katie Rowlett reports:
It has emerged today that hundreds of people working for the parcel delivery firm City Link will lose their jobs on New Year's Eve.
Many of the workers at Cribbs Causeway, Swindon and Gloucester were told of the redundancy plans this morning - after the firm went into administration over Christmas. Bob Cruwys reports:
City Link depots in Bristol, Gloucester, Cribbs Causeway and Swindon are opening today so customers can pick up their parcels.
The courier firm stopped trading on Christmas Eve when it went into administration.
The business has ceased to accept new parcels from customers and its depots will remain open for a short period of time to enable customers or intended recipients to collect parcels.
Those customers who placed parcels with City Link on Christmas Eve for delivery are urged to go to the depot to retrieve their parcels as soon as possible. Any intended recipients who have been notified of a failed delivery are also urged to go to the depot to collect their parcel as soon as possible.
The depots will reopen following the Christmas holiday break on Monday 29 December 2014 to enable parties to collect parcels.
City Link will no longer be able to deliver any further parcels and customers are urged to make alternative arrangements for future deliveries.
Parcel delivery company City Link Limited has gone into administration, with hundreds of jobs in the West at stake.
Administrators Ernst and Young took over the company on Christmas Eve.
It's likely to affect several depots and smaller delivery firms here who subcontract for the Company
Those worried about parcels are being told to call the helpline and to collect their packages from the depots on Monday.
The Deputy Prime Minister has been in Swindon to sign a contract that will bring up to one thousand five hundred jobs to the area.
The growth deal will mean more than £129 million investment in the region. It will see 2000 homes being built by 2021. The plan also include new transport schemes and a science park at Porton Down.
For many in Bath, the festive season doesn't really start until the Christmas Market opens.
Last year the market brought in an estimated £36m of revenue across the city.
Rob Murphy has been exploring: