Financial difficulties

[Bobbriggs47]

If royal mail is in such financial difficulties surely Simon Thompson should reduce his pay down to say a £100,000 a year ,more than enough to live on ...or is Simon Thompson just a greedy little man stripping this great company for all he can

[norris9]

He should be sacked.

These are the changes we need to survive....

1. Sack all numpties in upper management.



He wouldn't take a pay drop. He's a greedy, selfish, lying, hypocrite. Wants us to earn a wage that can't even buy you a shed in the South.

[redlen]

His contract set by the board decides his pay over say a four year term.
Just like football managers, these people have clauses in their contract that state they get paid that amount even if they leave after a short period

That is why they get a large payoff in the millions as Pay in lieu of notice

[zz666]

He should know his performance is not good enough and resign..

[Postie183848]

The ceo & the financial director should be sacked, they are the 2 highest earners in the business and responsible for the financial mess Royal Mail is in.Spending upwards of £900 million on a superhub also is a major factor in the state of the finances

[datasaint]

The investment in the superhubs would have been costed against doing nothing and relying on the old ways of working, and the superhubs will be cheaper. So that money is neither here nor there.

The real issue is the cost of the USO, how can RM be bound to provide essentially what is a public service and compete with the private couriers

[aiden01]

He should know his performance is not good enough and resign..

He does'nt give a flying f--k.

[enskied]

The investment in the superhubs would have been costed against doing nothing and relying on the old ways of working, and the superhubs will be cheaper. So that money is neither here nor there.

The real issue is the cost of the USO, how can RM be bound to provide essentially what is a public service and compete with the private couriers

Because that is what they took on when deciding to purchase the company.

It should be the first thing that they factor in, not the last.

Time and again I have heard and seen small business owners stating how much they rely on us, Royal Mail all of them say it is because we are cheap to use. So that tells me that packets and tracked are being under priced to establish a market..
At the expense of the mail, the obligation.

[TopperGas]

The ceo & the financial director should be sacked, they are the 2 highest earners in the business and responsible for the financial mess Royal Mail is in.Spending upwards of £900 million on a superhub also is a major factor in the state of the finances

Perhaps they have the full support of the Board, & DK?, in doing what they are attempting to do, just because we don't like what they are doing doesn't mean the Board doesn't support their actions.

[pinstripe]

The ceo & the financial director should be sacked, they are the 2 highest earners in the business and responsible for the financial mess Royal Mail is in.Spending upwards of £900 million on a superhub also is a major factor in the state of the finances

Perhaps they have the full support of the Board, & DK?, in doing what they are attempting to do, just because we don't like what they are doing doesn't mean the Board doesn't support their actions.

Who appointed the CEO and the Financial Director? The board

[daveyeff]

His contract set by the board decides his pay over say a four year term.
Just like football managers, these people have clauses in their contract that state they get paid that amount even if they leave after a short period

That is why they get a large payoff in the millions as Pay in lieu of notice

which is of course totally, wrong, immoral, and just downright disgusting. fantastic rewards for total failure. leaving the workforce f****d and absolutely demoralised, and the business a shambles. they should be in jail. C***S

[Binsey]

Welcome to Crony/Stakeholder Capitalism.

It’s an exclusive club and we’re not part of it.

[CamPostie]

The investment in the superhubs would have been costed against doing nothing and relying on the old ways of working, and the superhubs will be cheaper. So that money is neither here nor there.

The real issue is the cost of the USO, how can RM be bound to provide essentially what is a public service and compete with the private couriers

I’ve not seen any such projection in the companies financial releases - it’s unclear whether such a calculation has been done or if it’s been done diligently.

Additionally it may also have been done on the assumption of ultra low interest rates as was the case at the time.

Since that point the BOE has performed several rate rises which will have had an impact on RM’s credit facilities - and RM’s net debt had almost doubled in the last set of accounts to £975 million!

The sudden about face of the companies financial situation - from new uniforms and vans to the suspension of those and “we’re losing £1 million a day” was quite stark last year - suggesting the Senior Management Team / Board dropped the ball somewhere.

So if RM is in serious financial trouble, it’s questionable whether they should be the ones trying to lead the company out of it.

[Jinder]

STRIKE! the time for talks is over.

[k979aaa]

He should hang his head in shame the shear amount his incompetence and shady dealings have cost this nation is tantamount to treason off with his head I say.