http://www.reuters.com/article/2011/10/ ... 8S20111006" onclick="window.open(this.href);return false;
* Deal affects about 130,000 German mail workers
* New hires to receive on average 4 pct less
* Deal will help Mail stabilise EBIT at 1 bln euros -CEO
FRANKFURT, Oct 6 (Reuters) - German logistics group Deutsche Post (DPWGn.DE) and German union Verdi have agreed average wage cuts for new mail employees of 4 percent in exchange for guaranteeing the jobs of 130,000 German mail workers through 2015.
That would allow the company to pay new hires only 10.70 euros per hour, instead of the previous 11.13 euros, the company said in a statement.
"The agreement is an important contributor to permanently stabilising (operating) profits at our mail business at 1 billion euros and gives us additional breathing space to react to future developments in a shrinking mail market," Deutsche Post Chief Executive Frank Appel said in a statement.
Currently Deutsche Post aims to achieve earnings before interest and tax of (EBIT) 2.2 billion to 2.4 billion euros ($2.9-$3.2 billion) this year, of which 1 billion should come from its mail business.
The two parties plan to hold collective wage bargaining talks early next year, since the current pay deal expires at the end of December. ($1 = 0.751 Euros) (Reporting by Christiaan Hetzner; Editing by Will Waterman)
ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (Updated 2021)... HERE
ANNOUNCEMENT : PLEASE BE AWARE WE ARE NOT ON FACEBOOK AT ALL!
Deutsche Post swaps job guarantees for wage cuts
-
TrueBlueTerrier
- FORUM ADMINISTRATOR
- Posts: 72497
- Joined: 30 Dec 2006, 10:29
- Gender: Male
- Location: On my couch
Deutsche Post swaps job guarantees for wage cuts
All post by me in Green are Admin Posts.
Any post in any other colour is my own responsibility.
If you like a news story I posted please click the link to show support Any news stories you can't post - PM me with a link
My sharing of news articles should not be interpreted as an endorsement or condemnation of any particular viewpoint or the issues presented. I share them solely for informational purposes.
Any post in any other colour is my own responsibility.
If you like a news story I posted please click the link to show support Any news stories you can't post - PM me with a link
My sharing of news articles should not be interpreted as an endorsement or condemnation of any particular viewpoint or the issues presented. I share them solely for informational purposes.
-
Straight4ward
- EX ROYAL MAIL
- Posts: 1621
- Joined: 25 Oct 2009, 14:32
- Gender: Male
Re: Deutsche Post swaps job guarantees for wage cuts
Dividend
The Annual General Meeting on 25 May 2011 resolved to pay a dividend per share of € 0.65 for the financial year 2010 (previous year: € 0.60). The distribution ratio based on the consolidated net profit attributable to Deutsche Post AG shareholders amounts to 30.9 %. The net dividend yield based on the year-end closing price of our shares is 5.1 %. The dividend was distributed on 26 May 2011 and is tax-free for shareholders resident in Germany.
Deutsche Post AG: Total dividend and dividend per no-par value share 2001 to 2010
Still, good to see they have their priorities sorted - screw the workforce - reward the investors.
The Annual General Meeting on 25 May 2011 resolved to pay a dividend per share of € 0.65 for the financial year 2010 (previous year: € 0.60). The distribution ratio based on the consolidated net profit attributable to Deutsche Post AG shareholders amounts to 30.9 %. The net dividend yield based on the year-end closing price of our shares is 5.1 %. The dividend was distributed on 26 May 2011 and is tax-free for shareholders resident in Germany.
Deutsche Post AG: Total dividend and dividend per no-par value share 2001 to 2010
Still, good to see they have their priorities sorted - screw the workforce - reward the investors.
"Never take life seriously. Nobody gets out alive anyway."