Moya greene bonus

[Dee Plish]

Perhaps she should now be known as Moya Greed......

[borgpicard]

ENJOY OUR MONEY you robbing bitch

[TrueBlueTerrier]

hubbahubba thanks for the report - spammer banned

[flyingsam]

Below is the reply from ed davey postal minister following my email asking him to justify moyas bonus.

Thank you for your email of the 15 June to Edward Davey concerning the remuneration of Moya Greene. As you may appreciate, the Minister receives are large amount of correspondence every day and regrets that he is unable to respond to each one personally. I have been asked to reply.

As you know, the company's future is at a pivotal stage and the business is facing extremely difficult challenges. The communications market is changing due the introduction of digital technology and people and businesses are sending fewer and fewer letters - the daily mailbag is now 62m item whereas five years ago it was around 80m items. The resultant fall in revenues means that Royal Mail has to reduce its costs through the transformation and modernisation of its operations.

Royal Mail is a significant commercial business. It has a £9bn turnover and employs 166,000 in the UK. Government believe that it should employ people at Board level with the right commercial skills and experience to operate such a company. To recruit and retain people, it has to pay competitive rates. Only recently its Chief Customer Officer resigned to take up a post with a rival parcel company and several people below Board level have left the company this year. But even when paying competitive rates, the Government expects the company to show restraint and overall the remuneration of its Directors is at the lower end of the range potentially available to Directors when benchmarked against that of Directors in private sector companies of equivalent size.

Moya Greene was recruited last July to take forward the transformation of Royal Mail. She was appointed on a salary some £130k lower than her predecessor and the bonus she received this year reflects the fact the in year performance targets that were achieved. These targets were effectively set by Royal Mail's Remuneration Committee and the Government gave consent for them to be adopted. The targets related to profit, cash, quality of service and personal objectives. For 2010/11, no bonuses were given to Directors unless individual targets were achieved.

The company has entered a period where its profits will be affected by falling revenues and there will be significant costs attached to modernisation. The Board is determined to secure the long term future of the company. It is not seeking to make short term profits but to ensure that its modernisation plans are implemented and embedded in the company. Future performance targets will be geared to securing Royal Mail's future through modernisation.

Best regards,

James

James Baugh | Shareholder Executive | Royal Mail Team | Department for Business, Innovation and Skills | 1 Victoria Street | London SW1H 0ET

jupiter cock,what a load of double talk,the bottom line is if the company can pay directors bonus,then the workforce should get it as well.RM is using the bad economic times in the country as a green light to slash jobs,and to cut real term pay.RM keep going on and on about the mail down packets down,we all need to try just that little bit harder to save money.bull shite.the directors are openly robbing the tax paying people of this country ,by paying themselves large sums of money.pay the top people at RM £100-150000 if they don't like it, frack off.there are plenty of people who will do the job for a a lot less.RM directors = leaches jupiters cock,

[tinycamopg]

I read with interest these statements but none of you have realised that the way of the "powerful" in this world has but one goal! "I'm allright, Jack"!.f**k everybody else.It doesn't matter if they mess up, they still have organised a contract, with their lawyers (because they can afford them) that whatever happens to the company they are safe financially, regardless. They cock up, they get a bonus, you and I cock up all we get is a P45?????! The site management in my own workplace is rife with incompetant and inept individuals that don't know how the system works (and i'm talking a mail centre here) and they get away with it because they use the magic phrase "world class mail" Give me strength!!!!
Just wish we had people that knew the difference between Brighton and Birmingham.
But then, what do you expect when the majority have English as their second language?
Bring back national service!

[maisymoo04]

I read with interest these statements but none of you have realised that the way of the "powerful" in this world has but one goal! "I'm allright, Jack"!.f**k everybody else.It doesn't matter if they mess up, they still have organised a contract, with their lawyers (because they can afford them) that whatever happens to the company they are safe financially, regardless. They cock up, they get a bonus, you and I cock up all we get is a P45?????! The site management in my own workplace is rife with incompetant and inept individuals that don't know how the system works (and i'm talking a mail centre here) and they get away with it because they use the magic phrase "world class mail" Give me strength!!!!
Just wish we had people that knew the difference between Brighton and Birmingham.
But then, what do you expect when the majority have English as their second language?
Bring back national service!

tiny you get machines pal to sort ye mail

[flyingsam]

I read with interest these statements but none of you have realised that the way of the "powerful" in this world has but one goal! "I'm allright, Jack"!.f**k everybody else.It doesn't matter if they mess up, they still have organised a contract, with their lawyers (because they can afford them) that whatever happens to the company they are safe financially, regardless. They cock up, they get a bonus, you and I cock up all we get is a P45?????! The site management in my own workplace is rife with incompetant and inept individuals that don't know how the system works (and i'm talking a mail centre here) and they get away with it because they use the magic phrase "world class mail" Give me strength!!!!
Just wish we had people that knew the difference between Brighton and Birmingham.
But then, what do you expect when the majority have English as their second language?
Bring back national service!

would that be the Gatwick mail centre you talking about ?.

[Henrietta]

SHE gets a FAT wage SHE gets a FAT bunus we get a FAT nothing.....it's all going to world class...an utter waste of time and OUR money.
NO bonus, NO shares, NO pension and NO hope would describe where we are right now.

WC (rather appropriate initials for what it is!! ) has done NOTHING in my mail centre except put more emphasis on how the floors are cleaner and there are less accidents....well there would be...as we have less staff!!
Equipment and staff cannot be accounted for...no money in the pot you see......wll not our pot... MG's yes definately!!
Yours in despair...

[TrueBlueTerrier]

Sky News about to do a piece on the pay gap between those who get bonuses and those that don't - wonder if RM get a mention.

[Burge]

Sky News about to do a piece on the pay gap between those who get bonuses and those that don't - wonder if RM get a mention.

so did we?

I'd like to know how much all the modernisation equipment cost RM and factor that into the tiny profits we made. The money spent on al that kit, and all the vans etc has got to be pretty tidy.

Paid for from our colleague share money no doubt.

[fishtank]

Don't forget that as well as £350,000 in salary and £142,000 in performance related bonus....Moya was also paid £145,000 in relocation benefits...and has been provided with contributions of £20,000 to an HMRC approved defined contribution pension plan in respect of service during the 2010-11 financial year. For 2010-11 the Company has also made her an unfunded promise currently accrued at £120,611 to be paid on her ceasing to be employed.

A Grand total of £777,611...Nice work if you can get it.

[TrueBlueTerrier]

Sky News about to do a piece on the pay gap between those who get bonuses and those that don't - wonder if RM get a mention.

so did we?

Nope

[johno47]

You have to realise that Moya Greed is the same as anybody else who takes the top position at RM, they are only in it for themselves to make as much cash from RM as possible, Croziers bonus was based on savings in the business and we were the savings, 60,000 of our colleagues went, new ways of working every year just so he could get his bonus and and walk away from RM with £3.5million in his back pocket and a huge fund from our pension, these people have no interest in RM they are only here for a few years so make as much money as they can and call it modernisation.

[Judgee]

She received this bonus for meeting targets which were....

...running the RM into the ground, decreasing its value. This in turn makes it a major draw when privatisation takes place and the business can be sold for a song. When the business is sold off on the cheap all managers and executives will then recieve a big fat bonus for pushing the sale through, including all the donuts that work out executive bonuses!!


She is doing what is required and no doubt what she was strongly encouraged to do when she took up the position. It's not in the company interest but that of those greedy bastards at the top all plotting on how they can suck more money out of the RM cash cow before they all piss off to enjoy thier cash in thier villas in the Algarve!

[CORTINA]

These very salaries and bonuses to RM top brass can be thought of as legalised theft of company assets.

No person is worth 25 times + more than those that work below them, and without those below them would not have that job that paid so much........allowed Greed and no moral fibre is the motivator.

Working for the same company how can such a salary difference from top to bottom ever come about...legally. If every company Ceo died tomorrow, new Ceo`s would take their place.

The point always made when questioned, about a Ceo salary. and the stardard answer is...we have to pay the going rate.