Martin Walsh has provided an update 24/3.

[sixfoottwo]

Where's the actual update of the update that was promised to us today?

[smartin1982]

A 500 year old public service & it's taken Vince Cable & his pals less than 10 years to bring it to it's knees.
An absolute disgrace.

Everything the Union warned us what could happen has pretty much happened.

You would have thought they’d have put up a decent fight to try and stop it then, wouldn’t you. Especially after having “the greatest voting turnout and result in union history”.
They knew it was coming and they fu£&ked us with their incompetence

[needadvice]

Solidarity BS. So they would rather the 100,000 or so colleagues they have, loose a job many of them NEED in whatever incarnation they come up with, than RM getting their way?
As long as you still have a finish time the job ain't gonna change drastically. How can it?

Doing our job as it is for not much more than minimum wage is a line in the sand for many nevermind any of the changes

When I started our hourly rate was about £4 maybe even £5 more than minimum wage which reflected the physical nature of the job out in the elements

Now minimum wage has caught up big time and you add in the cost of living with inflation and you have many people questioning if this is a job worth keeping

If we don't get an acceptable agreement the job will not be worthy. It really depends what this job does to your health. If you are walking 12 miles a day for little more than minimum wage then that is in my opinion an act of self harm and you will regret it in your 50's and beyond

[datasaint]

I mean if this is a negotiating tactic by the RM board to threaten total collapse of the company unless they get their changes, it's either bloody genius or absolutely bonkers.

The union should never sell out their principles though. I'll not vote for anything that degrades Royal Mail into another Evri.

[datasaint]

The company won’t go under as you say the government can’t lets its postal service to go bust.

Politically it would be a disaster for the government too.

You would probably end up with a government bailout who would then end up selling it on at a loss like it did with Lloyd’s bank.

No the government appointed administrator's only role would be to fulfill the USO. That means parcels etc are of no importance.

The company would be a shell of it's former self, and there's no telling how viable the USO would even be without money coming in from parcels so you could be looking at a 3 day a week USO, meaning half the work force wouldn't be required.

[hans solo]

Not quite
It’s only oversize packets that will go
No way would they cope with the masses of smaller ones
And who will deliver their election drivel

[robking]

The company won’t go under as you say the government can’t lets its postal service to go bust.

Politically it would be a disaster for the government too.

You would probably end up with a government bailout who would then end up selling it on at a loss like it did with Lloyd’s bank.

No the government appointed administrator's only role would be to fulfill the USO. That means parcels etc are of no importance.

The company would be a shell of it's former self, and there's no telling how viable the USO would even be without money coming in from parcels so you could be looking at a 3 day a week USO, meaning half the work force wouldn't be required.

Those not required will receive a maximum tax free lump sum of £17130 (£17820 in Northern Ireland) statutory redundancy.

[guardianangel]

Fight until the bitter end, for to surrender is to be defeated. Don't let them control you with fear, don't let their mistakes be your burden. From the ashes, new hope will be born. And when you look back you can say I stood for what was right despite the cost. Say you will not accept a future for you or your family where your suffering fills the pockets of the rich. Power to the proletariat.

[Ppat98]

That’s the whole point of a private company to pay shareholders the profits.

Actually there's 3 things a company can do with its profits. They can re invest in the company, Save the profits or pay shareholders dividends. So no it's not the whole point. Also Royal mail is a public company

[CRIBMAD]

deal is done ! 9% rise lump sum between 2 - 3 k u heard it here

[FilthyBloke]

Solidarity BS. So they would rather the 100,000 or so colleagues they have, loose a job many of them NEED in whatever incarnation they come up with, than RM getting their way?
As long as you still have a finish time the job ain't gonna change drastically. How can it?

Doing our job as it is for not much more than minimum wage is a line in the sand for many nevermind any of the changes

When I started our hourly rate was about £4 maybe even £5 more than minimum wage which reflected the physical nature of the job out in the elements

Now minimum wage has caught up big time and you add in the cost of living with inflation and you have many people questioning if this is a job worth keeping

If we don't get an acceptable agreement the job will not be worthy. It really depends what this job does to your health. If you are walking 12 miles a day for little more than minimum wage then that is in my opinion an act of self harm and you will regret it in your 50's and beyond

But if you’re walking 12 miles a day it doesn’t matter what your hourly rate is regarding your health? It’s not like your body knows how much money you are earning.
If 12 miles is too much then it’s too much.

[toonshola]

deal is done ! 9% rise lump sum between 2 - 3 k u heard it here

You seem like a legit reliable source. I’ve instructed the wife to buy that sofa we desperately need. Thanks!

[zz666]

Will gls go under as well?

[Cucumber]

deal is done ! 9% rise lump sum between 2 - 3 k u heard it here

Just booked a week in Maldives based on your info. cheers.

[Rik]

To go insolvent then your liabilities must outweigh your assets, the shareholding also includes GLS so I can't see how administration is possible looking at the balance sheet.
More likely that GLS is sold off.
The company may be cash strapped but that's not the same as being insolvent.