Crown pay rise expected in September

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Post Office bosses have told CWU negotiators yesterday that the Crown network remains on course to break even by the end of September, which will mean that the provisionally agreed wage increase of 1.9 per cent will be paid in October.

In a joint statement published this morning, general network manager Roger Gale and CWU assistant secretary Andy Furey explain the difference between the company's recently reported 2014/15 whole-year financial figures and the "current performance", or "run-rate" criterion by which the "break-even" aspiration is measured.

Andy said: "The Post Office have told us they are forecasting the Crowns will reach a run-rate of break-even in September and, on that basis, and with that proviso, they have committed to paying out a 1.9 per cent pay increase backdated to April and also to honouring the £500 pre-agreed transformation payment with the October salaries.

"We hope that today's statement will provide re-assurance to members who may have been concerned by the recently released financial results.

"While I fully appreciate that members will feel frustrated at the length of time taken to resolve this, there are some significant steps forward here," Andy continued.
"The commitments from the business today are stronger than we have received before, more specific in terms of what is meant by 'break-even', and also commit to honouring the agreed transformation payouts."