Rock-bottom wages for German postal workers

[merson01]

Rock-bottom wages for German postal workers
By Jörg Victor
10 January 2008
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brdrtAt the end of 2007, the German parliament (Bundestag) passed a law introducing a minimum wage for postal workers. Postal delivery employees are to be guaranteed a minimum of €9 in the east of the country (former East Germany) and €9.80 in the west, letter sorters €8 in the east and €8.40 in the west.
The issue is highly contentious, and the plans for such a minimum wage were vigorously opposed by the Christian Democratic Union(CDU) and Christian Social Union (CSU) and, in particular, by Chancellor Angela Merkel (CDU) and her economics minister, Michael Glos (CSU). The current government in Germany consists of a grand coalition between the CDU-CSU and the Social Democratic Party (SPD).
Opposition also came from business groups and private postal companies, which advanced visions of the supposed horrific consequences of introducing a minimum wage. According to the chairman of the private postal company Pin Group, Günter Thiel, the introduction of the minimum wage threatened “billions worth of investments and tens of thousands of jobs in private postal companies in Germany.â€

[dvbuk55]

There's German efficiency for you - vorsprung durch technik.

[Carnoustie]

In 2007, the company shelled out more than €900 million in the form of dividends to its major shareholders. Dividends were also paid to the German state, which is a minority shareholder. Top managers were rewarded with sumptuous bonuses on top of their generous base salaries. Following the passing of the decree for a minimum wage, the share value of Deutsche Post rose, and its chairman Klaus Zumwinkel used the opportunity to sell off some of his shares in the company—picking up €2.24 million in the deal.

Swap the € signs for £ signs,
the words 'German state' for UK Government
'Deutsche Post' for 'Royal Mail'
'Klaus Zumwinkel' for 'Allan Leighton'
and '2007' for, say, '2010'

and you have a news article we'll probably be reading over here in the future

[F0zziebear]

It sickens me to know that RM is likely to go the same way as Deutschepost, and top managers will get away with what I would call insider trading.

Having worked with top mgmt in the postal industry I expect the share price of RM to become important in 10-15yrs time once full privatisation has happened. Decisions are then taken for purely financial reasons, which drives Deutschepost.

That is the reality of what awaits the UK postal industry

[councillor]

I always hated the EEC.