Daily Investment Market News from London
Wednesday 08th of February 2012
November 28, 2007

Long-running dispute ended at Royal Mail


by Kay Murchie

Long-running dispute ended at Royal Mail

Postal workers have staged strikes this summer across the country affecting mail deliveries. However, a deal has been reached with postal workers at Royal Mail on pay and conditions.

The Communication Workers’ Union said its members voted by 64% in favour of an agreement. A pay increase of 6.9% will now be received over 2 years.

Furthermore, all flexibility and change will now be directly negotiated with the CWU. There will be no change to working hours without prior agreement.

Increased competition from rivals meant that Royal Mail was unable to afford to make pay increases. The Communication Workers’ Union (CWU) said that this latest pay deal sets a benchmark for the postal industry.

The Union added that it has always recognised that change is needed in the Royal Mail and this agreement demonstrates that the union is leading the change agenda.

17 operators have entered the UK mail market since Royal Mail lost its monopoly status on post deliveries at the beginning of last year. Consequently, this has resulted in tough competition for the former monopoly, especially in the more profitable business post sector.

Story link: Long-running dispute ended at Royal Mail



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