CWU : Video : We need to see a huge shift in attitude from Royal Mail - and we need it now : We will review every single revision

[postslippete]

You are wrong Pete

You put a second card through ticking the box to arrange redelivery rather than 'we will redeliver next working day'

For a company that wants to go paperless by trying to save money on sending our paper wage slips, they are now wasting it on paper P739 cards. Figures.

[Acca Dacca]

You are wrong Pete

You put a second card through ticking the box to arrange redelivery rather than 'we will redeliver next working day'

For a company that wants to go paperless by trying to save money on sending our paper wage slips, they are now wasting it on paper P739 cards. Figures.

True. It is silly having to put more than one card through.

[LouBarlow]

I wouldn't. Not my problem.

Lol of course it is your problem. How do you expect a ‘for profit’ business to pay you if they are posting record losses? It might not have been your problem 10 years ago, but now your job and terms and conditions depend on the company you work for, making money. We aren’t, hence changes are a coming no matter how you vote.

[nuisance]

I wouldn't. Not my problem.

Lol of course it is your problem. How do you expect a ‘for profit’ business to pay you if they are posting record losses? It might not have been your problem 10 years ago, but now your job and terms and conditions depend on the company you work for, making money. We aren’t, hence changes are a coming no matter how you vote.

No, it is not up to me to make a successful, profitable business of RM. That's up to management. My role is to do my job under the terms and for the money that I am willing to do it for. My strength, like most posties, is walking really, really far giving people their stuff without collapsing or crying off. That is me meeting my end of the bargain, RM are reneging on their end by attacking my terms and conditions and reducing my real terms income, thus leaving me two alternatives, keep trying to get them to improve their end of the arrangement or leave and work for someone else who does. Whether they run their business well or poorly, in profit or loss, is not something I can alter without it being at my personal expense, which certainly is not a way forward that I'm supporting.

[Dexydog]

I wouldn't. Not my problem.

Lol of course it is your problem. How do you expect a ‘for profit’ business to pay you if they are posting record losses? It might not have been your problem 10 years ago, but now your job and terms and conditions depend on the company you work for, making money. We aren’t, hence changes are a coming no matter how you vote.

No, it is not up to me to make a successful, profitable business of RM. That's up to management. My role is to do my job under the terms and for the money that I am willing to do it for. My strength, like most posties, is walking really, really far giving people their stuff without collapsing or crying off. That is me meeting my end of the bargain, RM are reneging on their end by attacking my terms and conditions and reducing my real terms income, thus leaving me two alternatives, keep trying to get them to improve their end of the arrangement or leave and work for someone else who does. Whether they run their business well or poorly, in profit or loss, is not something I can alter without it being at my personal expense, which certainly is not a way forward that I'm supporting.

I think that has to be the most concise and accurate reading of this whole situation.
No whining- just pointing out it's our perogative either to fight for what is right, or ultimately to withdraw from the business.
Very well said.

[LouBarlow]

No, it is not up to me to make a successful, profitable business of RM. That's up to management. My role is to do my job under the terms and for the money that I am willing to do it for. My strength, like most posties, is walking really, really far giving people their stuff without collapsing or crying off. That is me meeting my end of the bargain, RM are reneging on their end by attacking my terms and conditions and reducing my real terms income, thus leaving me two alternatives, keep trying to get them to improve their end of the arrangement or leave and work for someone else who does. Whether they run their business well or poorly, in profit or loss, is not something I can alter without it being at my personal expense, which certainly is not a way forward that I'm supporting.

I agree with you completely, but you do seem to agree with me that it is your problem though, as it is mine. You either accept that the company is collapsing financially, and compromise your role within it, or you move on. Saying ‘it is not my problem’ is ridiculous. It is all of our problem.

[Seymour Buts]

I wouldn't. Not my problem.

Lol of course it is your problem. How do you expect a ‘for profit’ business to pay you if they are posting record losses? It might not have been your problem 10 years ago, but now your job and terms and conditions depend on the company you work for, making money. We aren’t, hence changes are a coming no matter how you vote.

No, it is not up to me to make a successful, profitable business of RM. That's up to management. My role is to do my job under the terms and for the money that I am willing to do it for. My strength, like most posties, is walking really, really far giving people their stuff without collapsing or crying off. That is me meeting my end of the bargain, RM are reneging on their end by attacking my terms and conditions and reducing my real terms income, thus leaving me two alternatives, keep trying to get them to improve their end of the arrangement or leave and work for someone else who does. Whether they run their business well or poorly, in profit or loss, is not something I can alter without it being at my personal expense, which certainly is not a way forward that I'm supporting.

Of course it's your problem, and everybody working here who actually wants job security and to be employed for any meaningful amount of time going forward.

[nuisance]

Of course it's your problem, and everybody working here who actually wants job security and to be employed for any meaningful amount of time going forward.

No I can only do my cog in the wheel bit, which I've always done enthusiastically. When RM managed to make money, they gave it away, that's above and beyond my control. Now they want me to be worse off so they have more money again? Hell no, you or they are not putting that on me and I implore everyone else to tell them to stick that one where the sun doesn't shine as well.

There's more work than the workforce can keep up with now, our jobs are not in imminent danger and my standards stretch further than just holding on to a job that punishes and damages me. It's not enough to be satisfied with having a job, there's other jobs! There has to be adequate benefits to doing this one!

[Basildon Bond]

“Collapsing” implies that something is about to be damaged or destroyed to the point that there is little to no hope of rebuilding it. Personally I do not believe Royal Mail is collapsing – financially or otherwise. Royal Mail is going through a difficult period. I am sure they still have a solid cash flow and the share price, while rocky, is still trending upwards – there is no solid data to say RM will collapse. If you have ever driven down a long bumpy road you may wonder if it will ever end and are looking to turn off the road asap to avoid further damage. However, you know if you take it slow and careful you’ll be back on the main road before too long and getting back up to speed. Covid was a booming time for parcels but now the market is correcting itself and there may be more growth in the future – younger generations have grown up with technology and as more and more get jobs and start earning they will no doubt use online shops for a lot of purchases due to those companies having cheaper prices due to lower overheads as they are out of town warehouses (though the high street may suffer even more).

I may also offer that Royal Mail as a company is in the “too big to fail” category. It provides a service that is so interconnected with the wider UK economy that the government will step in if it has to – though it may not be happy doing so. And a Labour government would probably be more open to the idea than the current one.

On the point of whether or not it is the workers “problem” to fix or not... Well, I think many would be happier if RM issued a plan that says the problem is for all of us to fix – a quid pro quo arrangement where we see the higher management giving up money or positions to save money. They should be looking to share the burden of the financial problem across all levels of the company. If they are really that broke then the top levels should be shouting from the rooftops what they are personally willing to do to keep the company going.

The board members are not saying that they are all taking a pay cut and it looks like they all (from a quick Google) hold several positions at various companies and so are all spread over different companies. Therefore they individually get a decent salary from any one role and could afford a pay cut to at least show their commitment to Royal Mail. It does happen. For example: Dan Price (CEO credit card processing company Gravity Payments) took a 90% pay cut. Eric Yuan (CEO and founder of Zoom) took a 98% cut and cancelled his FY23 corporate bonus. Both these actions rallied the workers, earned them some respect, and generally improved the mood.

Simon will be on full pay until October and be doing nothing or practically nothing right now as he is on garden leave. Then he will most likely be getting a pay off because it will be in his contract that he gets one – there is probably a clause on earlier termination (as and example, the ex-CEO of Disney got about $23 million when he left so doing a bad job still pays well it seems). It’s hard to swallow this when you look at Simon's effect on the company. Anyway, like Simon’s contract, our contracts are incredibly important – even if they are not as generous as Simon’s. Any decision to give up a bit here and there should not be taken lightly.

If the message really is that the ship is sinking, I’d like to think we’re all bailing water out to try and save it – but higher management positions should be issued bigger buckets than us.

The new CEO may be a "new broom" and do things differently. Maybe nothing should be changed or agreed until they come on board, state their direction, and try to win us all over. Some are pushing for a quick vote. Personally I see no harm in waiting for the new CEO.

[LouBarlow]

“Collapsing” implies that something is about to be damaged or destroyed to the point that there is little to no hope of rebuilding it. Personally I do not believe Royal Mail is collapsing – financially or otherwise. Royal Mail is going through a difficult period. I am sure they still have a solid cash flow and the share price, while rocky, is still trending upwards – there is no solid data to say RM will collapse.

Well there is no solid data, aside from Royal Mail and the CWU both agreeing on it, sure. Both are saying to vote yes on this deal to put in place safeguards to ensure the future of the company, as are members of the PEC, including one on these very boards. I trust all three of those more than random posters on here who use the terms “I’m sure” and “I don’t believe” because I rely on solid first-hand evidence when making decisions that will directly impact my future employment. All three have seen this.

[Dorset Plodder]

“Collapsing” implies that something is about to be damaged or destroyed to the point that there is little to no hope of rebuilding it. Personally I do not believe Royal Mail is collapsing – financially or otherwise. ...........

Good Post ruckus well put

I too believe it would make a very positive gesture if those towards the top of the business showed that they're sharing the pain as well.
However as a cynic I know they don't care a bit about whether of not we respect them, they're just a bunch of greedy bastards.

[Ad_bee]

Some of us do not appear to have heard about Creative Accounting so I'm-a just leave a primer here:

https://www.investopedia.com/terms/c/cr ... unting.asp

https://www.123financials.com/insights/ ... ccounting/

Creative Accounting is usually used to over-sell a company but it also can be utilised for the opposite.

I do not believe that Royal Mail is in financial trouble or will be in the near future.

[Dorset Plodder]

Creative Accounting is usually used to over-sell a company but it also can be utilised for the opposite.

Yep I agree. Half their "Loss" was the £539 Million Writedown that RM announced

I don't believe them further than I can spit.

[CHUCKYPIG]

Some of us do not appear to have heard about Creative Accounting so I'm-a just leave a primer here:

https://www.investopedia.com/terms/c/cr ... unting.asp

https://www.123financials.com/insights/ ... ccounting/

Creative Accounting is usually used to over-sell a company but it also can be utilised for the opposite.

I do not believe that Royal Mail is in financial trouble or will be in the near future.

Indeed. I am actually a former accountant that turned to the postman job to avoid spreadsheets.

Accounting can make a profit into a loss or a loss into a profit if you want to just by moving things from and to the income and expenditure and balance sheets. Also lots of other tricks.

The fact that over half of this conveniently round figure "Billion Pound Loss" is an impairment is very dodgy. That is not real money coming out or in it is merely an accounting adjustment timed very conveniently just before the ballots go out.

[CHUCKYPIG]

A loss on impairment will reduce income in the income statement and reduce total assets on the balance sheet without any actual reduction in REAL income needed. Smoke mirrors.......