ROYAL MAIL is warning thousands more jobs need to go

[Eric Cantona]

THE new boss of ROYAL MAIL is warning thousands more jobs need to go.
Chief exec Moya Greene today said Royal Mail had to get "smaller" to survive a huge fall in the amount of letters and parcels it sends.

She said without ongoing Government support the postal operator was essentially "balance sheet insolvent".

Grim results today showed the business lost £120million in 2010-2011 — that is £2million a WEEK.

And Royal Mail believes the size of the post bag will fall by 25 PER CENT in the next five years.

Ms Greene said she needed to press on with plans to axe up to 30 mail centres around the country in the next four years.

She admitted more jobs would go — in words that could spark a fresh showdown with union leaders.

She said: "I don't want to talk numbers yet. But it's fair to say with the decline in our volumes we are going to be smaller."

The Canadian tore into UK regulator Postcomm - saying the amount of red-tape faced by Royal Mail was unheard of anywhere in the world.

She added that unless Postcomm allowed Royal Mail to compete more effectively with rivals such as TNT and UK MAIL the situation would only get worse.

She said: "If we don't get the structural change things can only get worse. The taxpayer will be asked to foot a huge bill."



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[Eric Cantona]

Grim results today showed the business lost £120million in 2010-2011 — that is £2million a WEEK.

R.M has brought it on themselves really with all the money they spent daft on new red uniform and these bipper vans not forgetting the waste of space HC Trolleys.. no chance of the colleague shares now...

[knackers0191]

more cooking of the books,by royal then!!!!!!!!!! how on earth can they say all this bull s@@t, that mail and pkts are down. i for one have more pkts to deliver on a daily basis, some days of the week, its like christmas, think this moya is no good for royal mail, she been brought in, to do what she has done else where, slash and burn, fill her purse at our expense

[dvbuk55]

Well I see it as a feather in the cap of Moya, under Leighton we were losing a Million Pounds A DAY, or according to the very very creative accountants that Royal Mail employ................like the old joke, take a number, double it, add 20, multiply by 5, take away the first number you first thought of and the answer is...........whatever you want it to be

[wandle]

...under Leighton we were losing a Million Pounds A DAY...

You know what, that was the 1st thing that ran through my head when I read that article, and I was just going to make a post to that effect... when I saw you beat me to it ! Don't suppose we'll see any tabloid headline saying "New Chief Exec at Royal Mail slashes weekly losses by 71%", though.

It's all spin when it comes to numbers !

I think someone said on here once, ask a mathematician what 10 x 20 is, and he'll answer '200'
Ask an accountant what 10 x 20 is, and he'll say 'and what answer did you have in mind?'

[jockstrapp]

The planners must have gone to the same school as the accountants bcause their figures for the revisions are just as f#cked up.

[George door to dawes]

Someone said in a different thread that the new P&L vans cost 170million. So yeah we lost money cause the RM management spent it all!

[david_83]

£771m into the pension fund during the financial year". What effect did that have on the profits? Did they put in a similar amount in the previous year? Or maybe put in extra this year to stop the share scheme paying out?

[bandit650]

You have to ask yourself how much money have they wasted on this revision rubbish along with all these planners who have grand ideas on how to do the job and how to cut and slash these offices to shred's then add the new uniform then put the new vans on then all this new crap equipment also moya's bonus there that just about covers where they have wasted money and all the profits.

[Biker Mouse]

2 + 2 x 2 = ?

Answers below pse!

[scum_opg]

i agree with the comments regarding the cost of the new uniform... but then again thats cost that has been building over the last 4 years if you take into account design, production, testing, making revisions to the design, and then full scale production...

likewise with the P&L kit...
cost of vans that would probably have been part paid in the 2009/2010 year... and continuing to be paid during 2010/2011 and beyond...
P&L trolleys... well thats one large chunk of money...

new HCTs... again take into account the design, and testing etc and then full production thats high costs over a few years....

but one of the biggest wastes of money is the OTT wages paid to the executives.... if you cut their salaries to a sensible, reasonable level that should be justified based on their function and (as with us) hours worked... not a HIGH wage for working less than 20 hours a week or month.. then there would be less of an issue as regards company finance...

and thats even if we honestly believe that the company is genuinely so hard up for money.... and not just moving money about to make things look worse than they are to justify selling us off...

i also dont see how the business can continue to cut front line (and MC/DC) staff without it having an negative impact on performance ...

but... the wicked witch is right about the red take that hold the business back ... for starters with the DSA cost limits...

[david_83]

Not even Stephen Hawking would be able to make sense of it

[chunk]

Dont forget the thousands of redundancy payments at £10,000 each minimum !
these cost the company initially in the financial year before any savings take effect.
the 65,000 we lost since 2005 how many paid off and at what cost?
especially the leavers this year who are not all retirees.

[GHOSTman]

2 + 2 x 2 = ?

Answers below pse!

8......or if you use a calculator it's 6.. something to do with multiplying first. or of you work for royl mail the figures wil either be 0 or a - number...and will involve cutting jobs.

[Eric Cantona]

Maybe we will change the name to Consignia again, another laughing stock that was...