RMCtv : Simon Thompson : Board members meet the CWU to underline the seriousness of the company's financial situation

[milly]

It's a shame the Union didn't encourage Members to buy Shares through their SIP's to raise the Share price to stave off Kretinsky's bid.
Reddit members managed to take down a billion dollar hedge fund by doing this by buying stock in Gamestop and AMC.
The hedge fund had massive shorts on those stocks so had to keep buying at loss to cover their shorts.

If the membership got on board I'm sure we could buy a couple of million shares a month between us all.

[walthmstowman]

A few have commented that these 1&2 day strikes aren't working, I'm not convinced, I suspect it's the same thinking that any backlog quickly gets cleared but it's also been mentioned loads of times that creating a backlog was never the objective, it's the threat to RM of possibly losing customers due to uncertainty.

No one can fail to have noticed how quiet it currently is, take valentine's day for example, hardly any flowers sent through us so unless everyone really clamped down on spending they must have gone with the other parcel companies.

In my MC the volume of mail has gone down considerably . Looks like we’re already losing contracts thanks to the boards mismanagement of the company. I still can’t believe how they managed to get the workforce striking on Christmas Eve.IMO , Simon Thompson is now thrashing the company and needs to go . Thompson has cost Royal Mail a fortune in lost business and hiring of agency staff. The company’s reputation is going down around the U bend and just look at the money he’s on. Thompson cannot destroy the union without destroying the company. That last ballot result proves it .

[pmn123]

Will we continue to be sidetracked by the £1 million a day loss ? Which is the equivalent to the daily useage cost of casual labour in the industry. Many Companies make losses especially during the pandemic I.e easy jet, which is still flying. Others such as Twitter were bought for billions,whilst TESLA had sustained losses. The importance is the maintenance of investor's confidence, in our particular case probably VESA who clearly call the shots in regards to Thompson.
Willaims as Dave Ward alluded to is now talking but has remained silent from negotiations after he disengaged from negotiations back in September.
Willaims appointed Thompson after "conversations" with Dave Ward in regards to Rico Blacks period of control, remember that, its llke de ja vu all over again ?
Willaims has a track record of attritional disputes with Unions as his 18 month BA dispute with Willy Walsh shows. The outcome of which was an agreement of a 2 two tier work force in BA ( existing & new workforces) with Unite under its previous General Sec Len Maclusky agreeing when Walsh resigned and Willaims took over as lead negotiater for BA in the dispute. Sounds familiar to our dispute .Willaims is also involved in the Rail track Group, also currently in a industry wide continuous dispute. So let's hope that something isn't being polished to then be presented to us as acceptable and "a game changing industry leading agreement"again because there is plenty more of that polishing stuff down the line from Royal Mail if that's the case.

[Mr Rush]

I've noticed this phenomena at our last 3 revisions. The weeks and months before it, traffic was low and walks were fairly comfortably achievable. Then as soon as revision is implemented, we are met with a tsunami of mail and parcels. It's a very suspicious coincidence that it happens with every revision!

Before our P&L revision management announced we would be conducting a packet count one day the following week. The day came and packets were the deadest I had ever seen them. What a coincidence!

[KilledOff]

"As I have repeatedly said, resisting change and not transforming to meet customer needs is not an option in a business losing £1 million a day. Royal Mail reported losses of almost £300 million in the nine months to December 2022, two-thirds of which was the result of industrial action."



Considering we were supposedly losing £1 million a month before any strike action then this obviously doesn't add up.

A maths question for Darren Jones MP to ask our CEO next week!

[walthmstowman]

If we’re losing a £1million a day then it was grossly irresponsible for the company to give shareholders more than we could afford. That alone proves the board are utterly and completely incompetent. Also if the company hadn’t decided to attack its workforce because of its own buffoonery we wouldn’t have lost anywhere near that amount of money . The blame for this utter shambles lays firmly with the Royal Mail board ( or should I say circus ) They are a complete bunch of clowns

[k979aaa]

Well when the elephant in the room is removed we may get an agreement by each side compromising not dictating or lobbing hand grenades' while reading off his whiteboard and obfuscating to MP's!