THE POST Office in Caernarfon could be at risk of closing as part of the company's efforts at reducing central costs.

The Post Office revealed it is looking to offload 115 directly-owned branches (DMBs) within its 11,500 network, which could see them transferred to retail partners or postmasters, or potentially closed.

Around 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.

Post Office chairman Nigel Railton said the shake-up will also offer a “new deal for postmasters” by increasing their share of revenue and giving them a greater say in the running of the business as it looks to move on from the Horizon IT scandal that saw hundreds of subpostmasters wrongfully convicted.

The plans, which are subject to government funding, would see average branch pay doubled by 2030, with £120 million in additional pay by the end of the first year.

He said: “The Post Office has a 360-year history of public service and today we want to secure that service for the future by learning from past mistakes and moving forward for the benefit of all postmasters.

“We can, and will, restore pride in working for a business with a legacy of service, rather than one of scandal.”

Regarding the future of the Caernarfon branch, the Post Office said no decision had been made but that it was looking to "reduce its central cost".

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Directly-owned branches which are "loss-making" are under threat of closure, it said.

A Post Office spokesperson said: “We are considering a range of options to reduce our central costs.

"This includes considering the future of our remaining Directly Managed Branches, which are loss-making.

"We have long held a publicly-stated ambition to move to a fully franchised network and we are in dialogue with the unions about future options for the DMBs.”

The 115 branches put at risk are are Crown Post Offices located in city centres and staffed by Post Office employees.

They are the only remaining branches directly owned by the Post Office, down from close to 400 in 2010.

Retailers such as WH Smith, Tesco, Morrisons and the Co-Op operate around 2,000 Post Offices across the country.

The rest of the network – about 9,000 Post Offices – are operated by independent postmasters.