Oh yes, I’ve already seen these! Just can’t seem to find the specificities you’ve mentioned. Could you point to the specific page perhaps?
Hmmmm. Misreporting is fraud and I’m Mr Thompson is aware if that. Much as I am not keen on the management the unions are far from squeaky clean. Do you still tell staff to take their week sick? I got bullied for not going sick!
I got sacked for being off sick for 1 day (leg injury) .True Story . But they had to reinstate me as it was illegal… So that episode cost them 2 weeks paid ‘leave’.
I’ve never known of anyone being asked/told or bullied into taking sick leave… Sorry to hear it happened to you
I don’t understand wat you’re wanting me to find for you? Receipts for all the money Royal Mail spent??
Have a watch of this, explains things perfectly.
You must be talking about a very long time ago with a very outdated point of view. The reality nowadays is quite the opposite.
Without getting into a he said she said type of debate, I’ve know Royal Mail workers who have been off sick to receive 20+ phone calls in one day from the manager pestering them to come back off the sick.
“Although the current state of its balance sheet still looks reasonably healthy, it doesn’t have enough cash to cover its trailing dividend yield of 7.1%. Consequently, any dividend payouts will quickly turn its balance sheet into ruins, as its dividend cover currently stands at -2x. Moreover, the company is going to have to address its increasing debt pile.”
Any dividend forecasts for FY25 onwards? Could be a money maker but I wouldn’t hedge my bets given how poor management has handled the situation.
I suspect the divvy will be suspended until they get back on track.
Also it might look bad if they pay a divvy and there are plenty of strikes still going on.
No dividends are to be paid at all. I work for RM an have about 2k shares. RM have spent sbout a billion pound in 6 month to enable them to post losses of £219 million. They can hardly pay out huge sums to shareholders in light of this.
As has already been suggested, it was announced on 17th November in the half yearly results that the interim dividend had been suspended. They are looking at the potential to pay a final dividend for full year 2022/23 depending on GLS earnings. My guess is that they won’t be paying it, but that all it is, a guess.
Just in case anyone on here is unaware, Dave Ward of the CWU was live on LBC for two hours last night, giving a very good insight into why the union are taking industrial action. It can be watched again on YouTube for anyone who missed it.
Spending within a business doesn’t mean you post loses. It all depends on what it’s spent on. Anything purchased that has a value and stays on the balance sheet of assets and therefore not harming profits. Giving Management shars also does not effect profits as the shares are already issued or effect the companies share capital ownership
That’s my point, that is what Royal Mail have intentionally done. They have also banned all overtime for employees but allowed agency staff to do overtime which costs them twice as much as they have to pay their wage and the agency fee too. Like i said, they gave shareholder £568 million, then posted losses a few weeks later. Good management does not do this!!
The Union put a proposal to Royal Mail today which would have seen the strikes on 23rd and 24th cancelled, and a period of calm until 16th January, to allow further talks to continue.
This proposal was rejected and the strikes will go ahead as planned.
What did the Union propose?
Probably the same request they’ve put before…
Why should Unions move stance when the company wont.
For shareholders, its not going to be a good time, but when it went public, the relevant people got the money they wanted and left…
So far the strikes have cost those taking part close to £2k.
Whilst I agree we all need a payrise, and as a working man, it is needed, what if the strikes play into the managements hands… Just to play Devils Advocate, what is stopping Royal Mail from making all delivery staff redundant and using sub contractors/ agencies? This would save them stoppages from strikes and staff sick days as the agency would be responsible for staff availability
Royal Mail employs 90,000 people to deliver the mail no agency could get anywhere near that many people. Agency staff cost a lot more to employ as the agency gets a big cut, agencies pay national Insurance, sick pay and holiday pay etc Many people work for agencies because they want flexible working hours plus there is very low unemplyment at the moment. Basically it would be impossible to do.
The strike is not necessarily about pay. It is nowhere near the main issue in the dispute.
It’s been shown that they can’t recruit enough agency staff (on higher pay), as they have recently tried a recruitment drive for friends & family of RM workers for ‘immediate starts’… No DBS checks or nothing
I think they will either fire & rehire in the new year or force everyone onto lesser contracts.
Whatever is done … It certainly wont be the same job.