Bonuses at Royal Mail rise by two thirds

[the deliverer]

http://www.telegraph.co.uk/news/uknews/ ... hirds.html" onclick="window.open(this.href);return false;

Bonuses at Royal Mail rise by two thirds
Bonuses for thousands of managers at Royal Mail have soared by nearly two thirds despite missing first-class mail delivery targets, and pushing through a big increase in the price of stamps, The Daily Telegraph can reveal.

By Christopher Hope, Senior Political Correspondent10:00PM GMT 17 Feb 2013

The national postal operator has been forced to admit that it agreed a secret 62 per cent increase in bonuses for thousands of its managers last year.

The dispute risks embroiling ministers in another row about bonuses, after state-controlled banks agreed large sums to employees. The sums are set by a framework which is agreed by ministers.

The average bonus for managers at Royal Mail was £2,717 in 2011-12, compared with £1,674 in the previous year, according to disclosures under Freedom of Information laws.

The payments were severely criticised by postal unions and Labour, which said “consumers and businesses will be completely dismayed”.

In the same financial year 2011-12, Royal Mail missed its target to deliver a certain amount of first-class mail by the following day. Quality of Service figures showed that 92.7 per cent of first class and meter franked mail was delivered, compared to its target of 93 per cent.

The sums were agreed despite big increases in the price of stamps after the end of the financial year, with first-class stamps rising from 46p to 60p and second class from 36p to 50p from April 30.

Royal Mail publishes details of the bonuses paid to its directors in its annual report and accounts every summer.

Last year Royal Mail’s chief executive Moya Greene received a £371,000 bonus, taking her pay to £1.1 million and making her one of Britain’s highest-paid officials. The bonuses paid to thousands of her junior managers at Royal Mail were withheld and were only available if requested under Freedom of Information laws.

Ian Murray MP, Labour’s postal affairs spokesman, said he was writing to Miss Greene to protest. He said: “Consumers and businesses will be completely dismayed to hear that Royal Mail managers have received such a substantial increase in bonus payments at a time when stamp prices have increased disproportionately and delivery standards have slipped.”

Dave Ward, deputy general secretary of the postal union the CWU, said ordinary postmen and women would be “shocked” at the scale of the bonuses.

A Royal Mail spokesman denied bonuses were rewards for failure, insisting they were not as high as they could be because of the missed first-class targets. She said that in 2011-12 Royal Mail delivered “a very significant turnaround”, increasing group profit from £18million to £152million.

A Department for Business spokesman defended the payments, saying they were “designed to incentivise managers to achieve the transformation of the business”.

[borders]

why is anybody shocked ????
here is a quick example easy to dig up...
Meanwhile, as 2013 gets under way, the rich have never had it so good.

Last year's Sunday Times Rich List confirmed that the 1,000 richest people in Britain have seen their wealth increase by a staggering £155 billion over the past three years of the recession - enough to wipe out the entire deficit with around £30bn to spare.

Yet thanks to the government's decision to reward those earning £1m a year or more with a £42,000 tax cut starting this spring, the rich can look forward to their wealth increasing still more.

As for the corporations and businesses which many of them run, those are set to enjoy a 2 per cent reduction in corporation tax in 2013, while VAT will continue at 20 per cent, a tax on consumption with a disproportionate impact on the poor.

Thanks in large part to the unstinting efforts of the campaign group UK Uncut when it comes to shining a light on the immorality of tax avoidance by the rich and big business, we now know the full extent of the theft committed by multinational companies such as Asda, Ikea, Starbucks, Vodafone, Google, Amazon, and others when it comes to exploiting tax loopholes to avoid paying anything like their fair share of tax revenues.


and heres some more ....


Between 1983 and 2002 sales at FTSE 100 businesses rose by an average of 2.7 per cent a year, slightly less than the growth of the economy.

FTSE company directors, on the other hand, filled their boots with their pay soaring 27 per cent a year above inflation, every year.

This has meant the richest 1 per cent now control more than 40 per cent of the world's wealth

[borders]

there you go tax the f..king rich , be it individuals or multinationals

[pinstripe]

http://www.dailymail.co.uk/news/article ... rgets.html" onclick="window.open(this.href);return false;

[baldrick]

http://www.telegraph.co.uk/news/uknews/ ... hirds.html

A Department for Business spokesman defended the payments, saying they were “designed to incentivise managers to achieve the transformation of the business”.

Exactly. The bonuses are for cutting jobs and costs ready for privatisation. Not for improving the service.

[chooch]

Direct Lift from 'BLUE SHIRTS' Board: 'Pay Rise 2013 - Rumours and Thoughts here please'.. (emphasis mine, with apologies to borders..)

spot on , extra money in your pocket every week . we had Ray Ellis at our Annual General meeting on Sunday and he said its going to be a hard negotiation this year. apparently the top RM management are not interested in the 3 year Business Transformation agreement they had with the union anymore but are firmly in Privatisation mode .

Well, there's a suprise..

[hans solo]

and still members come in early and work for free to supplement their bonuses joke

[spoodoo]

If this is not a case for walkin out well..

[Wild Rover]

Union are too weak to think about strike action over this.

[TrueBlueTerrier]

They will be using the outcry over this when it comes to pay negotiations. If they don't then they need to be got rid of.

[steven100]

Sadly people are too scared to strike now plus our union isn't as strong as before. Do the job properly is the only option now.

[Zootsuit]

Ladies and Gentlemen,
When you come in early. When you work through your break. When you run. When you doorstep. When you deliver recorded without signature. When you read while you walk. When you don't deliver all your d2d's. When you don't do your vehicle checks...........

You cheat yourself. You cheat us all. You enable the managers' bonuses and the more they get the more they'll expect.

Be careful, the further we bend the further we'll need to sway, and there's only so far we can go before something breaks, and it won't be the managers that break, it'll be us.

[parcelboy]

Met there targets for B+H First Class.Dipped slightly on second class for dismissing.What a good company i once worked for.Sack f/t take on p/t.Similar to Army making soldiers redundant take on P/timers .Wonder if this Goverment has had a hand in this im sure time will tell

[parcelboy]

Met there targets for B+H First Class.Dipped slightly on second class for dismissing.What a good company i once worked for.Sack f/t take on p/t.Similar to Army making soldiers redundant take on P/timers .Wonder if this Goverment has had a hand in this im sure time will tell

[zigimar]

As a manager, let me assure you that the possibility of such bonuses is there, the probability of any manager attaining that level of pay out is absolutely zero.
You're not daft people, work it out.