royal mail runs out of cash

[POSTMAN]

£200,000

[robd]

£200,000

Every little helps

[fishtank]

£200,000

That's just your London Whatnot payment.

[Lincox]

Hopefully we will get paid in Tesco Clubcard Points, then we can change them into Tesco Clubcard Deals at 3 times the value. At that rate the pay will go up to £6.70 x 3 per hour = £20.10p per hour. Brill.

[comeracing]

our dim told us today that royal mail have had to take out a loan off goverment to pay wages x x x x have they been brain washed x x x x

our lino told us today that 'TESCO' are rumoured to be a buyer of the post office come privatisation.......every little helps eh!!

So if tesco is rumoured to a buyer will be delivering food as well. Hope its not delayed to long or the food may become out of date

thats nothing felt like a paperboy this week,delivering door to door papers now as well as leaflets

[belle smith]

our dim told us today that royal mail have had to take out a loan off goverment to pay wages x x x x have they been brain washed x x x x

we were told a few weeks back that RM had to borrow £200,000 to pay wages.
some seemed shocked but to put it into context it would be like me borrowing £20
full of shite.

Maybe we should go on strike to help, they won't have to pay us then.
on secound thoughts what terms might we come back on once our negotiators got in there.

[stokes11eg]

Seems to me they have been borrowing for months! As someone said, go to the papers with this, and see what they say then. Another scare tactic.

[TrueBlueTerrier]

our dim told us today that royal mail have had to take out a loan off goverment to pay wages x x x x have they been brain washed x x x x

we were told a few weeks back that RM had to borrow £200,000 to pay wages.
some seemed shocked but to put it into context it would be like me borrowing £20
full of shite.

Not even that to be honest £200,000 would give everyone in Letters about £1.25p each or roughly 10 minutes work each (and thats based on the wage for a new starter)

[mailroyaly]

Maybe they can ask crozier for a loan, after all, they did give him 2 million squid last year, he's got more money in the bank than RM.

[ziko]

Was this £200,000 to pay for all the doms bonuses..... i wonder

[TrueBlueTerrier]

Was this £200,000 to pay for all the doms bonuses..... i wonder

with appprox 1500 delivery offices - NO

I think they'd be pissed off with just £133.00

[kimski1976]

just hearing this shite wants me to put pen to docket asap.

[fmrPOSTIE]

Royal Mail has not borrowed any money from Govt. If they did MPs would find out.

[fishtank]

Royal Mail has not borrowed any money from Govt. If they did MPs would find out.

Royal Mail has been borrowing money from the Government for years in the shape of commercial loans.
Who can forget those wonderfully insightful purchases of obscure foreign and ultimately worthless companies 8-10 years ago...those purchases were funded by loans from the Government which,to this date have still to be paid back.

Haven't you noticed that the modernisation process has gone from "fully funded" in early 2010 to...flat broke,ground to a halt in early 2011...where has almost £2Billion we borrowed from the Government gone?
It's being used to fund the day to day operation of a company that is bleeding cash from every orifice...that's where.

[fmrPOSTIE]

My remarks were obviously about an "emergency loan" Royal Mail has not taken any extra money from the Govt. Apart from the £1.5bn loan back in 2007. Around half has been spent...

This was a 5yr agreement and is due to expire in 2012.