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Alun Cairns (Vale of Glamorgan, Conservative)
To ask the Secretary of State for Business, Innovation and Skills what plans he has for the future of the phantom share element of Royal Mail's Colleague Shares scheme; and if he will make a statement.
Hansard source (Citation: HC Deb, 12 May 2011, c1350W)
Edward Davey (Parliamentary Under Secretary of State (Employment Relations, Consumer and Postal Affairs), Business, Innovation and Skills; Kingston and Surbiton, Liberal Democrat)
Colleague Share is an incentive scheme set up in 2007 by Royal Mail and as such is an operational matter for the company.
The scheme, which is expected to have paid out £2,200 to most members by the time various operational targets are met, will close in March 2012. After this date, it is for Royal Mail to decide whether to introduce further employee incentive schemes and the form of those schemes.
Separately, as part of the provisions in the Postal Services Bill, the Government will make available shares to employees upon the first sale of Royal Mail shares.
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Commons - Written answers and statements
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TrueBlueTerrier
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Commons - Written answers and statements
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seeker019
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Re: Commons - Written answers and statements
This statement does not alter the fact that we have been shafted over CS.
RM invented another failing bussiness plan to stop this years payout saving RM millions - I smell massive FRAUD within RM.
Now, i expect somesort of payment this year for half the shares and another larger payment in 2012 to end the deal, so whats stopping RM from further FRAUD???
So what has the CWU done since, nothing, they may have had a meeting but as yet failed to inform the membership of any info.
'as part of the provisions in the Postal Services Bill, the Government will make available shares to employees upon the first sale of Royal Mail shares.'
Seems they want us to buy into RM by saving over a set time, where's the good will in this----shafted over free shares then expected to buy them later.
I smell massive fraud within RM.
RM invented another failing bussiness plan to stop this years payout saving RM millions - I smell massive FRAUD within RM.
Now, i expect somesort of payment this year for half the shares and another larger payment in 2012 to end the deal, so whats stopping RM from further FRAUD???
So what has the CWU done since, nothing, they may have had a meeting but as yet failed to inform the membership of any info.
'as part of the provisions in the Postal Services Bill, the Government will make available shares to employees upon the first sale of Royal Mail shares.'
Seems they want us to buy into RM by saving over a set time, where's the good will in this----shafted over free shares then expected to buy them later.
I smell massive fraud within RM.
Trust Royal Mail? God help us all.....