Sometimes, it pays to fail. Royal Mail has been accused of "rewarding failure" after giving its chief a bumper pay-rise. In a year when profits fell and the service was crippled by strikes, chief executive Adam Crozier was given a 26 per cent pay rise (almost ten times the 2.9 per cent awarded to other staff) taking his total pay package to £1.25 million. The Royal Mail chief has overseen a period of modernisation which has resulted in the loss of 45,000 jobs and the closure of 4,600 post offices, with a further 2,500 to follow. The company's profits have fallen by more than a third to £233m, mainly because of increased pension fund costs. The disclosure of his bonus follows eight days of strikes which led to a backlog of 200 million letters and parcels. Presumably, his cheque isn’t in the post.
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SADDAMS PAY RISE-IT PAYS TO FAIL
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