LTB 455/12 - Colleagueshare/New Incentive Arrangements

[TrueBlueTerrier]

are we getting it next friday or on after?

No one knows - Its still to be ratified as far as I can gather. Don't count on getting it till it appears in your bank account.

[seeker019]

Can't believe the CWU spent 12 months on this useless crap.

A better deal would have been :

£1000 each to end the shares joke
Pro-Rata to be scrapped
AND an increase in Xmas bonus (£200 max)

Shafted again

[spoodoo]

Did the bosses all get the full payment of shares,I heard they did.? Did the bosses all get a few thousand bonus this week? Oh well at least they value and respect us ,,it's shocking,,

[pants123]

The Royal Mail Group has accepted that there will now be a further and final independent validation of both the legal and financial aspects of the Colleagueshare Scheme. Importantly, it has also been agreed that the output from this piece of work will be shared with all employees.

DOES THIS STATEMENT MEAN ONCE A FINANCIAL ASPECTS OF THE SCHEME HAS BEEN VALIDATED, WILL THERE BE A PAYMENT AGAINST THE 700 SHARES OF THE COLLEAGUE SCHEME.

???????

[TrueBlueTerrier]

The Royal Mail Group has accepted that there will now be a further and final independent validation of both the legal and financial aspects of the Colleagueshare Scheme. Importantly, it has also been agreed that the output from this piece of work will be shared with all employees.

DOES THIS STATEMENT MEAN ONCE A FINANCIAL ASPECTS OF THE SCHEME HAS BEEN VALIDATED, WILL THERE BE A PAYMENT AGAINST THE 700 SHARES OF THE COLLEAGUE SCHEME.

???????

No.

As Fishtank has said in a previous post, and I agree with him, Royal Mail have to their mind finished with colleague shares and we won't get anything more from it. As he intimated they have "opened" the books as gesture of inclusion and its highly unlikely that an independent validation is likely to find any more cash hidden in the records.

[pants123]

so if there is No MONEY available, what the point of having a valuation then... the whole CS scheme has been a complete joke, people that left a few years ago,, get £1400, but then a few months later they are worth nothing.. ROYAL MAIL is just full OF BULL BULL BULL AND MORE BULLSHIT , we are still waiting for our final payment of £200, from 2 years ago.. ROYAL MAIL stick your so called incentive schemes up your arse, cause you expect people to work their tits off, then to not pay them for it.. your a complete JOKE,,, its not a rant,, but true..

[Red Robbo]

Moya has sucked the Union in and blown them out !

[smok3y666]

Does this apply to Parcelforce? We/I have shares too.

NM, there's a document floating around PF that basically says the same.

[monkey76]

Just put it on our wages then

The Christmas bonus has been £100 for many years.
The union was under pressure to agree an increase.
This provides a get out on both the colleagueshares and the bonus,the union can tick both boxes at once.
The truth is £100 is an insult to members.

At that rate it would take more than 14 years to realise the same money that leavers were getting in Sept 2010...when the company was saddled with the pension deficit and commercial loans and had to be worth less than it is today no matter what way you use to value it.

The new incentive scheme is just that...new and no doubt with new hoops to jump through.

Same as any other new incentive scheme it will get us nothing.I noticed they said they used the share money for automation payments so just gave everybody money they were entitled to as apposed to paying them for adjusting to a new way of working and i see we are still waiting to be told how much profit was made last year yet the shares have returned a nil value.So if they release the profit statement and its says for instance 500 million pounds in profits were made will there be a rabbit off as they have told us our shares are worth nothing surely if theres profit your shares should be worth something?????????? also bearing in mind they dont have to plough 800 million into the pension fund this year please correct me if im wrong.It seems the WCM agreement which will also be a new way of working has also been brought in behind our backs and we wont recieve anything in the way of new monies for that either we are in a dangerous trend now it seems of our union giving into everything without any of there paying members input and RM are getting everything they want for free again correct me if im wrong though.

[pants123]

monkey 76,,, i totally agree with you, very good points you make..

yes ive noticed there has been no mention from Royal Mail about its profits from last year, interesting as to why they are very silent.. something very fishy here..