Well the union told us they had seen the books...... Royal Mail were in a dreadfull financial position, the pot was all but empty . Tighten your belts time all delivery staff loosing £10 to £20+ each to help plug the holes, oh sorry i meant awarded a 6% pay rise over 3 years (though we will still be worse off after the three years )...... Then out pops the truth £404 million profit (letters £121million) an excellent performance IMHO during a recession any company should be proud and build on this (though still not enough for RM)..... So what do you think were the union right or did RM sucker them into stitching up its membership now the profit results are out..... For me doesn't seem like the desperate position they lead us to believe
Is it me or were we ALL being told that the mail is getting less.Well what a surprise someone has been telling us fibs again naughty naughty so where has the profit been coming from !!
viking wrote:Is it me or were we ALL being told that the mail is getting less.Well what a surprise someone has been telling us fibs again naughty naughty so where has the profit been coming from !!
I saw in another thread that there were about 8000 job losses in RM last year. These jobs are not being replaced. The wages from these would be more than £121 Million. Oh the future looks good for our 'investor' from the private the sector. Not so good for us
IMO, the union told us what RM told them to. That's what happens when a union plays politics. They become like politicians.
£121,000,000 divided by 8,000 would be £15,125 - so it looks like you right Pinstripe, the profits come from personnel wastage.
All post by me in Green are Admin Posts. Any post in any other colour is my own responsibility. If you like a news story I posted please click the link to show support Any news stories you can't post - PM me with a link My sharing of news articles should not be interpreted as an endorsement or condemnation of any particular viewpoint or the issues presented. I share them solely for informational purposes.
It is not exactly correct to say Royal Mail has made a £404m profit. This figure is the operating profit not overall profit. Overall Royal Mail has actually made a pre tax loss of £262m in the last FY.
You need to remember that the £404m profit is after they've put nearly £1billion into the pension fund. So far from not making very good profits. Add the money paid into the pension fund (which royal mail management & the goverment made an Arse of) It'd be a profit of over £1billion! :)
I think they pay something like £280m into the pension fund each year.
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been. My BFF Clash The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
fergy7197 wrote:does that mean everyone gets the "profit share style payment" like they did last may? I had just started then, been in for 4 months and got nothing!
No,that was used for the £400 (pro rata)lump sum just received for the agreement being voted in.
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been. My BFF Clash The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
fergy7197 wrote:does that mean everyone gets the "profit share style payment" like they did last may? I had just started then, been in for 4 months and got nothing!
No,that was used for the £400 (pro rata)lump sum just received for the agreement being voted in.
thats a bit crap - so that means its really worth nothing then?
)...... Then out pops the truth £404 million profit (letters £121million) an excellent performance IMHO during a recession any company should be proud and build on this (though still not enough for RM)..... So what do you think were the union right 
