Royal Mail chief pockets £1.1m as profits dive

[norbet colon]

[quote="grover6912"][quote="dvbuk55"][quote="k66yla"]31 October 2007
CWU response to Royal Mail’s financial results

Royal Mail’s profits are disappointing and come as a direct result of mismanagement, Postcomm’s irresponsible decisions, and unfair competition.

Billy Hayes, General Secretary, said: “The CWU has consistently called for a government review on the impact of competition on postal services. In light of these results we now repeat that call for an urgent review.â€

[Dynamo 2]

[TrueBlueTerrier]

Page 33 of todays daily mirror, under the heading, '1st class disgrace'.

http://www.mirror.co.uk/news/topstories ... -20042689/

By Clinton Manning Business Editor 01/11/2007

Postal workers were fuming last night as it emerged Royal Mail boss Adam Crozier got a £212,000 bonus last year.

His pay package soared by 26 per cent to just under £1million - up from £790,000 the previous year. It included a salary of £629,000 plus £18,000 of benefits and a £140,000 pension perk.

The timing is a major embarrassment for crisis-hit Royal Mail, which has suffered crippling pay strikes.

Staff are yet to vote on whether to accept a deal worth 6.9 per cent - £22 a week - over two years.


A cwu source said: "This will stick in the throats of many workers.

"On the one hand they're pleading poverty and squeezing staff pay and pensions. Yet on the other they're giving directors huge bonuses and pumping fortunes into their pensions."

Chief executive Crozier's cash bonanza emerged in Royal Mail's annual report, which revealed he opted to put another £257,000 of his bonus into an incentive scheme - which could trigger a £500,000 payout next year.

Dave Ward, CWU deputy general secretary, said: "Workers have had to take eight days of strike action this year to get any pay rise at all. It's time to review pay at the top."

But Royal Mail part-time chairman Allan Leighton - himself paid £200,000 - defended Mr Crozier. He said: "The reason Adam gets paid what he does is because he runs a bloody big company and does a great job.

"If you compare his pay to FTSE100 CEOs, it's at the bottom end, not top."

The immediate cost of recent strikes on the firm is about £10million.

Mr Crozier warned the full impact would not be known for a long time.

The report showed Royal Mail made £233million last year - down a third, despite a five per cent stamp price rise.

What do you think? Get published at mirror.co.uk

[vigilante]

HE GETS A F****G GREAT BONUS FOR GOOD PERFORMANCE




REALLY, IT'S NOT FUNNY.

[Badger717]

My office gets a monthly bonus of 4p. Crozier, thanks for the new pay deal, hope you enjoy your Bonus. But when it comes to the vote I am now 100% behind a BIG FAT NO.

[thekiddykid]

Well if you wanted to antagonise an already p****d off workforce, the announcement of Croziers 26% pay rise may just do it !!!!! :cfo . This on the eve of our vote to accept 'THE VISION FOR THE FUTURE part 2' ( part 1 didn't contain so many ifs and buts)... Well if you were in ANY doubt of how to vote in the ballot, the thought of our boss ' doing a bloody good job ' and earning £83 GRAND a month may just tip you over the edge NOOOOHHH

[Carnoustie]

....But Royal Mail part-time chairman Allan Leighton - himself paid £200,000 - defended Mr Crozier. He said: "The reason Adam gets paid what he does is because he runs a bloody big company and does a great job.

"If you compare his pay to FTSE100 CEOs, it's at the bottom end, not top."

That must be because 'the market' thinks Crozier is a walking disaster area. If any of the other top 100 companies thought him worthy of a more-inflated salary, they would have been falling over themselves offering him a job when he Fcuked Up at the FA !

Royal Mail are the only company daft enough to over-pay for under-achievement

[moanmoanmoan]

....But Royal Mail part-time chairman Allan Leighton - himself paid £200,000 - defended Mr Crozier. He said: "The reason Adam gets paid what he does is because he runs a bloody big company and does a great job.

"If you compare his pay to FTSE100 CEOs, it's at the bottom end, not top."

That must be because 'the market' thinks Crozier is a walking disaster area. If any of the other top 100 companies thought him worthy of a more-inflated salary, they would have been falling over themselves offering him a job when he Fcuked Up at the FA !

Royal Mail are the only company daft enough to over-pay for under-achievement

People - I agree that the leaders of RM have been overpaid for crap performance.

Closer to home what about the union leaders.

Crozier has been paid out of government money - a very small percentage of tax - they will p**s it on some cr*p anyway.
.
The union leaders are paid direct from your pocket

[IWW Fellow Worker]

....But Royal Mail part-time chairman Allan Leighton - himself paid £200,000 - defended Mr Crozier. He said: "The reason Adam gets paid what he does is because he runs a bloody big company and does a great job.

"If you compare his pay to FTSE100 CEOs, it's at the bottom end, not top."

That must be because 'the market' thinks Crozier is a walking disaster area. If any of the other top 100 companies thought him worthy of a more-inflated salary, they would have been falling over themselves offering him a job when he Fcuked Up at the FA !

Royal Mail are the only company daft enough to over-pay for under-achievement

People - I agree that the leaders of RM have been overpaid for crap performance.

Closer to home what about the union leaders.

Crozier has been paid out of government money - a very small percentage of tax - they will p**s it on some cr*p anyway.
.
The union leaders are paid direct from your pocket

So are you tax dodger, so off you go.

[smokerjim]

Page 33 of todays daily mirror, under the heading, '1st class disgrace'.

http://www.mirror.co.uk/news/topstories ... -20042689/

By Clinton Manning Business Editor 01/11/2007

But Royal Mail part-time chairman Allan Leighton - himself paid £200,000 - defended Mr Crozier. He said: "The reason Adam gets paid what he does is because he runs a bloody big company and does a great job.

"If you compare his pay to FTSE100 CEOs, it's at the bottom end, not top."

When did we become a FTSE100 ( or even FTSE250 ) company - as far as I was aware, we were all working for a Public Service?Or maybe I'm labouring under a misaprehension

[POSTMAN]

....But Royal Mail part-time chairman Allan Leighton - himself paid £200,000 - defended Mr Crozier. He said: "The reason Adam gets paid what he does is because he runs a bloody big company and does a great job.

"If you compare his pay to FTSE100 CEOs, it's at the bottom end, not top."

That must be because 'the market' thinks Crozier is a walking disaster area. If any of the other top 100 companies thought him worthy of a more-inflated salary, they would have been falling over themselves offering him a job when he Fcuked Up at the FA !

Royal Mail are the only company daft enough to over-pay for under-achievement

People - I agree that the leaders of RM have been overpaid for crap performance.

Closer to home what about the union leaders.

Crozier has been paid out of government money - a very small percentage of tax - they will p**s it on some cr*p anyway.
.
The union leaders are paid direct from your pocket

It HAS been covered in other threads and some people are not happy about them either.

[springheeled boris]

don't worry about crozier, worry about BILLY MONEY BAG HAYNES AND HIS COHORTS. these are the real thieves. this whole charade has been about the very existence of the cwu gravy train jobs, pension and pay of the very top union executives. they present this pay deal as a victory for the cwu, but what has it given us? ever decreasing pay- 6 o'clock starts that nobody wanted, flexibility is still there, in fact the management have everything they wanted- yes?

[Malatesta1954]

We were told at yesterdays Pensions briefing by Ray Ellis that Royal Mail paying 30% of pensionable pay as their pension contribution was unsustainable and we Posties would have to have have worse pensions in the future and new entrants even worse than that

W Hayes – General Secretary Gross Salary 79,618 Pension Contributions 23,408 a contribution by us members of 29.4% Billy, pays nothing by the way, apparently this is sustainable.

So when it comes to our pensions they can't be afforded but when it comes to us paying for Billy's it can be.

Both ways we lose

[Carnoustie]

To (almost) quote from Simon & Garfunkel

Laugh about it, shout about it
When you've got to choose ...
Anyway you look at it, we lose