Price of peace at Royal Mail = £500m

[TrueBlueTerrier]

http://blogs.mirror.co.uk/money-questio ... ail-5.html" onclick="window.open(this.href);return false;

Royal Mail boss Adam Crozier looks set to leave in a cloud of Ferrari dust.

He'll bag a bonus of up to £2 million after delivering a landmark three-year peace deal with union leaders (as I predicted last week).

The timing could not be sweeter for Crozier who takes over as boss of ITV at the end of next month.

His three-year bonus scheme ends this month and pays out in the summer.

But it looks as if he was forced to make some costly concessions in order to strike a deal before he goes.

To win the backing of union leaders, Crozier agreed a series of lump sum payments and wage rises worth almost £5,000 each for the 130,000-strong workforce.

That looks like a staggering £500m bill over three years, even after the inevitable redundancies resulting from "modernisation".

Customers will also pay a price with later deliveries and more "junk mail".

[Wessex]

When will the so-called journalists actually question why modernisation will mean later deliveries.Surely greater efficiency should mean earlier delivery times.I dont wait with bated breath .

[Shrek]

Typical Journo gets it wrong. Should be deal costs your posties £500 million

[fishtank]

To win the backing of union leaders, Crozier agreed a series of lump sum payments and wage rises worth almost £5,000 each for the 130,000-strong workforce.


WTF! The money just goes up and up.
I'll be retiring at the end of march at this rate.

[belle smith]

To win the backing of union leaders, Crozier agreed a series of lump sum payments and wage rises worth almost £5,000 each for the 130,000-strong workforce.


WTF! The money just goes up and up.
I'll be retiring at the end of march at this rate.

Don't worry the public can rest assured.....it's only money we already had!