Colleague Shares

[Carnoustie]

I know these are a controversial subject, but are we due another 'dividend' payout soon, based on Royal Mail hitting a certain level of profit for the 2008/2009 Financial Year ?

Strangely, although there's a page on RM's website about Colleague Shares, at
http://www.royalmailgroup.com/portal/rm ... d=79700739" onclick="window.open(this.href);return false;
if you click the link for a look at the brochure (that many of us chucked in the bin),
there's no .pdf document there, so I can't confirm that - if memory serves correctly - we're in line for £200 based on national profits and possibly another £200 for beating local budgets

[DGP1]

Yes we are due 'bonus' payment but how many offices hit their targets as I've said before, we're in the unique postition of hitting national targets but almost every office failing to hit theirs.

[stokes11eg]

Yes we are due 'bonus' payment but how many offices hit their targets as I've said before, we're in the unique postition of hitting national targets but almost every office failing to hit theirs.

BUT--If T.N.T buy in before the dividend is due--will it still be paid out?

[POSTMAN]

The pdf is there try again,i can't upload it to the site as it's too big.

ftp://ftp.royalmail.com/Downloads/publi ... ochure.pdf" onclick="window.open(this.href);return false;

The £200 for local budgets is no more,there is just the 50/50 thing.

[dvbuk55]

The pdf is there try again,i can't upload it to the site as it's too big.

ftp://ftp.royalmail.com/Downloads/publi ... ochure.pdf" onclick="window.open(this.href);return false;

The £200 for local budgets is no more,there is just the 50/50 thing.

Good oh - that'll be FA again then. But in reality I think the 50/50 is finished now.

[savo]

At our most recent WTL session, our DOM told us that we were £20K under budget, so in theory there should be £10K to be shared amongst us, will only believe it when i see it on my pay slip.

[johnnyp]

At our most recent WTL session, our DOM told us that we were £20K under budget, so in theory there should be £10K to be shared amongst us, will only believe it when i see it on my pay slip.

We are £75.000 over at our place

[Edward Hunter]

I think the 50/50 ends this tax year. We get what our office has saved shown to us at WTL every week and so we know we are due a couple of hundred quid soon from local savings. I believe the fact that there is no replacement scheme for 50/50 in place is one of the reasons the union is currently not agreeing to any more savings from now on (London area)

[bandit650]

We have been told that the colleague shares worth in our office stands at 120.00 but we did'nt get any answers as to the national pay out,he did tell us our actual shares are worth nout,our DOM the cheerful little soul that he is said your shares are worth nothing they have gone up the pictures but if we keep on saving at the rate we are then skys the limit,what ever that means.

[Pat Ostman]

if we keep on saving at the rate we are then skys the limit,what ever that means.

Lots of job losses I would imagine

[TrueBlueTerrier]

if we keep on saving at the rate we are then skys the limit,what ever that means.

Lots of job losses I would imagine

Correct - smoke and mirrors at work. Here is how it happened/happens over the last few years:

1. They try to get savings by cutting jobs or implementing pegasus style cuts
2. DO then starts the "Do you job properly" campaign and everyone claims OT or cuts off - savings fail.
3. RM bring in 50/50 - Managers then sell it as you will benefit if you don't claim OT or cut off.
4. Savings are made and people get the bonus.
5. At start of year the DO is planned with same amount of hours less those saved because of the 50/50. To match the new yearly hours budget walks are extended or amalgamated (2 in 1 van).
6. Jobs lost, hours lost, bonus unachievable back to square 1 but in a worse starting position.

Just one of the reasons I voted against the 2007 Pay and Mod (sorry I could not resist a "told you so" )

[smokerjim]

Q: What happens if you consistently bust your budget, week after week?

A: Jack Sh*t, except slightly less cuts than "target achieving units"!

[jacko]

I think the 50/50 ends this tax year. We get what our office has saved shown to us at WTL every week and so we know we are due a couple of hundred quid soon from local savings. I believe the fact that there is no replacement scheme for 50/50 in place is one of the reasons the union is currently not agreeing to any more savings from now on (London area)

Thats what we were told at a reps meeting,union headquarters can not get the management to sit down and negotiate a fresh savings scheme so after april 1st there is no agreement on savings so reps are not to sit down and make agreements on savings.If every rep did this then maybe the royal mail will sit down and sort another savings scheme out with the folks down in wimbledon.

[not me]

so this phantom bonus due?

[dvbuk55]

Why would RM enter into another scheme, they are achieving what they want without promising anything - or as in the past promising everything and delivering nothing.