Where's the news coverage : Royal Mail bosses threaten to declare insolvency as pay talks near collapse

[TopperGas]

Added the news story to the 1st post.

LOL you have to be joking ! The Guardian ? the Royal Mail sounding paper - get real !

You've lost me with those comments?

[priority102]

Administration and getting taken back over by the government might be the best thing that can happen in the longterm.

In your dreams, for pity's sake wake up.

IF, as a last resort the government is forced to take back RM, from day ONE it will be looking to offload it to the first interested buyer, probably a current competitor to RM and probably at a knock down price, then once bought said new owner will set about absorbing RM into their own operation - or their operation into RM- to maximise profits. If you don't know what cuts are now - you will then!

The government sold it off cheap in 2013 because they didn't want it around their neck, it won't be any different 10 years on and losing millions!

[fredtheegg]

If RM go into administration and possibly run by the government because of the USO, what happens to the pension we are all contributing too?

[enskied]

If RM go into administration and possibly run by the government because of the USO, what happens to the pension we are all contributing too?

They hijacked our pension before.
We are owed.

[aiden01]

If RM go into administration and possibly run by the government because of the USO, what happens to the pension we are all contributing too?

They hijacked our pension before.
We are owed.

Owed what enlighten us all.

[nutcracker]

Because the interest rate fluctuations on the money RM borrowed for the "superhubs" is the real issue, and the BofE have already stated they'll go back down later in the year. Provided RM can prove that they can get their finances in a position where they can pay the money back, which is more likely in an environment where interest rates recede again, then administration isn't really on the cards

How much did RM borrow for the superhubs?

We’re in a position where the BofE has not acted quick enough and inflation maybe showing signs of becoming embedded in the economy . The only way interest rates come down from here is if there is a serious recession.

Either way sounds like RM maybe screwed over the next few years

[jbo5066]

Have no doubt any appointed administrator will instigate an immediate major cost cutting frenzy from all parts of the business. And considering Royal Mails greatest cost negative is in its wage bill, you do not need to be Einstein to work that one out.

But I would imagine that will be senior executives and management before actual postie's since the former earn a lot more; also if the government are insisting on the USO being maintained, they will need frontline staff .. Also, any appointed administrator will get to see the books, warts and all - the truth may finally come out!

[derricksmyth]

If RM go into administration and possibly run by the government because of the USO, what happens to the pension we are all contributing too?

They hijacked our pension before.
We are owed.

Owed what enlighten us all.

As I understand it Royal mail pensions or the main part of it pre 2018 is owned by the state. Please correct me if I am mistaken?

[SpacePhoenix]

Administration and getting taken back over by the government might be the best thing that can happen in the longterm.

In your dreams, for pity's sake wake up.

IF, as a last resort the government is forced to take back RM, from day ONE it will be looking to offload it to the first interested buyer, probably a current competitor to RM and probably at a knock down price, then once bought said new owner will set about absorbing RM into their own operation - or their operation into RM- to maximise profits. If you don't know what cuts are now - you will then!

The government sold it off cheap in 2013 because they didn't want it around their neck, it won't be any different 10 years on and losing millions!

There's no way that any firm will buy RM because they'd be stuck with the letters side and the USO. More likely someone would by GLS and maybe PF together

[LouBarlow]

Maybe if the CWU took its demands with suspended and dismissed reps out of the talks who have their own disciplinary process, agreement on the actual cause of the complaint and dispute can be made. It is no more than Russian roulette now on the very survival and peoples livelihoods

More doom , gloom and despondency. Say something positive that is based in fact not just your barrack room lawyers opinion.

There is literally nothing positive to discuss right now, unless you care to remove your head from the sand and inform us otherwise?

[DiamondSmiles]

If RM go into administration and possibly run by the government because of the USO, what happens to the pension we are all contributing too?

Company pensions are protected if funded correctly all along. Should it have been underfunded there is a Government lifeboat scheme that would come into force.

[FilthyBloke]

Just accept the deal now.
Move on with the changes.
If people would prefer the company collapsed rather than get another job then ‘solidarity’ my ar*e.

The CWU need to stop acting like they have a punch left in them. The members need to stop acting like the union is down kind of messiah. It’s no different to a football fan mentality where all you can see is through your red/blue tinted glasses. Or those people that say “I’m a labour/tories man” never willing to change even though your party is failing.

RM will do what they want. ST wasn’t going to budge. But the CWU have carried on like a scene from Dads Army and RM are simply ignoring them.

Say YES to the deal now.

[antcpfc]

Can you point me to where I can see the deal.
Cheers.

[FilthyBloke]

Can you point me to where I can see the deal.
Cheers.

It’s the same one the CWU have been putting you off. Maybe it’s worse now. But better than nothing.

[Splappy_McSplap]

Have no doubt any appointed administrator will instigate an immediate major cost cutting frenzy from all parts of the business. And considering Royal Mails greatest cost negative is in its wage bill, you do not need to be Einstein to work that one out.

But I would imagine that will be senior executives and management before actual postie's since the former earn a lot more; also if the government are insisting on the USO being maintained, they will need frontline staff .. Also, any appointed administrator will get to see the books, warts and all - the truth may finally come out!

They can't cut any more away from delivery than they already have. Any kind of actual scrutiny would reveal the thousands of useless admin and line manager jobs. The ones that do almost nothing and have some ridiculously ambiguous job title. The five mail centre managers standing with their arms crossed talking about football in the middle of an aisle while telling one single actual worker in a mail centre packet bullring to sort faster.