Royal Mail staff to receive 50M pounds worth of shares

[POSTMAN]

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Royal Mail employees are to receive £50 million worth of free shares, business secretary Sajid Javid announced today.

Its 1,500 members of staff already own 10% of the organisation.

Javid said: “Employees currently comprise an important part of Royal Mail’s shareholder base. I believe there is merit in rewarding the employees of Royal Mail for their hard work, which has contributed to the recent performance of the business and has been reflected in the current share price.”

Chancellor George Osborne added: “We’re also going to make sure that there is a special bonus for the workforce who have done such a great job turning Royal Mail around.

“Thanks to them, Royal Mail’s share price has risen; so we’re going to give more of the shares to the staff.”

A Royal Mail spokesperson said: “We welcome the government’s decision to offer further shares in Royal Mail to employees for free. Our people currently own around 10% of Royal Mail, giving them a direct stake in the organisation and its future success.”

[tansorboy]

1,500 members of staff? Is that the target? That is a lot of lost jobs....