What exactly do you think they are doing - building the business up and diversifying because the letter business had run its course. The unit cost of delivering letters is not coming down (going up with everything else including wages) and the revenue from letters are down because the volumes have been dropping for decades.
They have been gradually not making enough on letters for decades but it might have gone into Red; parcels are subsidising the whole business but even those will reach optimum.
It is a hard business to run and manage as it is, then add intransigent workforce and an archaic Union...
The status quo of pre-privatisation cannot be returned to; even then the profit was not mega compared to the revenue.
Who will buy such an handicap of a business and who will run it without wanting mega mega salary and bonuses? The government certainly will not want to run it but they need a good and (profitable) postal service as a going concern - it is in the national interest!
Royal mail can just sit tight - continue the executive actions and watch the CWU implode and lose members or given the boot off the shop floor.
Strikes - so what? We have had those and unless they call for many days or a full week - it will not achieve much and a lot might not even take part.
RM should call their bluff and impose a pay deal from next financial year!
