Royal Mail finally negotiates a pay deal with the union, ending a long-running dispute
The long-running dispute that has cost Royal Mail millions of pounds and a CEO has finally come to an end after postal workers backed a pay deal.
About 76 percent of union members voted in favor of the three-year deal, which includes a 10 percent wage increase, later shift start times and a profit-sharing arrangement, with a turnout of 67 percent.
More than 115,000 staff walked out for 18 days between September and December for better wages and conditions as rising inflation hit wages.
Agreed: About 76% of postal union members voted for a three-year pay deal, which includes a 10% pay rise, later start times and a profit-sharing scheme
International Distribution Services-owned Royal Mail said the Communication Workers’ Union (CWU) strikes have cost it £200 million as it bled more than £1 million a day.
Although a breakthrough came in April when the company agreed a deal for unions to vote on, ending its worst campaign of industrial action since privatization in 2013, embattled Royal Mail CEO Simon Thompson was forced to resign a month later. step down.
He is expected to receive a £700,000 payout when he formally steps down in the autumn after about two years at the top.
CWU chief Dave Ward said the appointment of a new CEO was “the most important ever,” adding, “If the new CEO is someone who wants to bring the workforce, this company can have a bright future.”
“If the same old mantras continue, Royal Mail Group will be gone for good.”