Creative Accounting is usually used to over-sell a company but it also can be utilised for the opposite.
I do not believe that Royal Mail is in financial trouble or will be in the near future.
Indeed. I am actually a former accountant that turned to the postman job to avoid spreadsheets.
Accounting can make a profit into a loss or a loss into a profit if you want to just by moving things from and to the income and expenditure and balance sheets. Also lots of other tricks.
The fact that over half of this conveniently round figure "Billion Pound Loss" is an impairment is very dodgy. That is not real money coming out or in it is merely an accounting adjustment timed very conveniently just before the ballots go out.
"That is not real money coming out or in it is merely an accounting adjustment timed very conveniently just before the ballots go out."
I think so.
Oh they already covered themselves therein by admitting that its an 'adjusted operating loss'.
Well if it is true and the company is going bankrupt then those running the company i.e. the board of directors are the ones who are the most guilty of wrecking a 500+ year old organisation by making record profits and turning them into record losses and doing it all in just a single year!!
There is no "we're all in it together" if the greedy b@st@rd$ at the top are too busy recruiting 'jobs for the boys' in senior management positions whilst taking thousands of pounds out of the company in bonuses, shares, perks and pay offs.
On the face of it, shareholder value is the dumbest idea in the world.
A job is a job, and we should vote yes to keep our jobs, take the very generous lump sum on offer, and play the smart game. If some postal workers are not happy with the job anymore, then they should consider leaving and looking for a job that is more suited to them.
But talk of walkouts, work to rules and overtime bans is not the path to go down at all.
As I said before, accept the CWU recommended agreement, regroup, hope the next Royal Mail CEO is more conciliatory and flexible, and work together with the CWU to keep on improving conditions and pensions.
BS, we're good workers working blooming hard and, in spite of all the nonsense, demoralisation and sabotage efforts by senior management policies, giving it our best to maintain some sort of service and standards. This should not only keep us our jobs but see us rewarded.
Not a chance this deal is getting accepted, it's a vote to make things worse for us and better for RM so RM might vote for it if they could but any postie in their right mind wouldn't. There needs to be some win win proposals on the table, we mustn't vote for being the losers in every sense, that would be absolutely pathetic.
The company has posted eye watering £700M losses this week. We are not in a position to hold a gun to anybody's head anymore, we are all in this together whether we like it or not.
The deal is far from perfect, but at least it is a deal, and accepted by the CWU on our behalves.
A lump sum upfront of £1,500 is very generous considering Royal Mail has lost £700M.
Realism has to prevail.
Well if it is true and the company is going bankrupt then those running the company i.e. the board of directors are the ones who are the most guilty of wrecking a 500+ year old organisation by making record profits and turning them into record losses and doing it all in just a single year!!
There is no "we're all in it together" if the greedy b@st@rd$ at the top are too busy recruiting 'jobs for the boys' in senior management positions whilst taking thousands of pounds out of the company in bonuses, shares, perks and pay offs.
All of that maybe true, but it ain't gonna provide much comfort if we all end up on the dole.
Well if it is true and the company is going bankrupt then those running the company i.e. the board of directors are the ones who are the most guilty of wrecking a 500+ year old organisation by making record profits and turning them into record losses and doing it all in just a single year!!
There is no "we're all in it together" if the greedy b@st@rd$ at the top are too busy recruiting 'jobs for the boys' in senior management positions whilst taking thousands of pounds out of the company in bonuses, shares, perks and pay offs.
All of that maybe true, but it ain't gonna provide much comfort if we all end up on the dole.
Yeah, maybe we will see Simon Thompson standing in front of us in the dole queue as well
On the face of it, shareholder value is the dumbest idea in the world.
Every single striking postie knew that the 1 and 2 day strikes weren't going to work or have the impact we desired. It certainly wasn't the members fault that ward and Co bodged up the rolling day strike debacle or the strike just as the ballot was running out. All of these mistakes weakened our hand in negotiations.
As for the recent losses declared do they include the cost of the superhubs or the money spent on EVR to managers or the huge spend on electric vehicles or agency staff etc. Figures can be manipulated whichever way you want when it suits a certain narrative.
I'm voting no as the sick pay and IHR is disgusting amongst pretty much every other part of this deal.
What will happen if it comes back a majority no? Who knows but we shouldn't be blackmailed into voting yes because the board took all the money.
Stay strong comrades
We've said to people that the most important thing to us is that when our members get to
cast a vote on the agreement, that they do so on the most informed basis.
And actually, with all the reps here today, we've been up in Scotland, we've been all
around the country now, we've got Belfast to go to tomorrow, and we would have completed
all those briefings.
I'm going to say that our reps have been really good, they've raised all the concerns that
the members would expect them to raise.
And we're also in a position where we know that one of the huge issues, let alone some
difficult elements of the agreement, which we've explained the position why we believe
that's the best thing in terms of reaching, moving forward for our members, but we know
that one of the big things that's coming across is what's happening now, and is it going to
change?
It's about the local revisions that have been imposed, it's about the attitude of management
that have created this toxic environment, they're in denial on that.
I've got to say we've had a meeting with Royal Mail today because of the quality of service
results.
We met them this morning before this briefing started, and we have laid it out very clearly
to them, that unless they can convince every single rep in the country, with their local
manager coming to them saying they are going to work together, there is going to be no
more executive action, which is what their top team are telling us, and they are going
to use the industrial relations framework, and we are going to review every single revision
to make sure that quality of service is put back to where it should be, which is the only
way the business can survive, then we're in a position where we have to consider whether
or not we put the ballot out at this point in time.
Having said that, we're not running away from the agreement, we stick to the agreement,
but we need them now to step up as managers and make sure that what they've said to us
today is a plan that we can put to our reps and members so that everybody can see their
immediate concerns are going to be addressed.
Too little too late, you have lost the dressing room !
Its time for a change in CWU direction and leadership
Bullying &
Harassment has been dialled up to 11, worse than that even.
I’ve never seen anything like it anywhere I’ve worked. Nothing even close.
An utter disgrace on those higher ups running this show, honestly.
How long before people will be driven to something as drastic as suicide? No doubt it will happen. I pray to god that it doesnt.
A real life pair of conmen trying to salvage their luxurious lifestyle. For years they have done very little for us - even in covid times when they should have demanded extra pay for us. They have NO strike funds ??? Why ?? All our subs are for their exorbitant salaries and eye watering expenses. At least this dispute has shown their real side. Unscrupulous pair of weasels.
A real life pair of conmen trying to salvage their luxurious lifestyle. For years they have done very little for us - even in covid times when they should have demanded extra pay for us. They have NO strike funds ??? Why ?? All our subs are for their exorbitant salaries and eye watering expenses. At least this dispute has shown their real side. Unscrupulous pair of weasels.
Yep 24million a year I think and every penny is spent , 13years since the last strike and no thought of establishing a strike fund
i don't buy any of this, cwu and royal mail are both working together from what i can see, both stringing us along, their is no pay rise nothing, jobs finished, just empty statements ,like their own airtime
