Profit share joke

[stevejm]

Tell me I'm reading this wrong - this looks to be a joke!

First off, its only Royal Mail profit and not IDS Mail - Royal Mail is loss making.

Second - to turn around the company from loss making to profit will take at least a couple of years - well guess what - after 2 years (march 2025) profit sharing stops.

Third - lets say by some miracle R.M made 100 million profit. Well 20% [and why is it only 20% and not say 50%] which is 20 million is set aside for the serfs.

Divide 20 million by 115,000 workers. It comes to £174.

But again - you have no chance of seeing that paltry £174 anyway. Ever. Forget it.

This is beyond insulting.

[mw7485]

Tell me I'm reading this wrong - this looks to be a joke!

First off, its only Royal Mail profit and not IDS Mail - Royal Mail is loss making.

Second - to turn around the company from loss making to profit will take at least a couple of years - well guess what - after 2 years (march 2025) profit sharing stops.

Third - lets say by some miracle R.M made 100 million profit. Well 20% [and why is it only 20% and not say 50%] which is 20 million is set aside for the serfs.

Divide 20 million by 115,000 workers. It comes to £174.

But again - you have no chance of seeing that paltry £174 anyway. Ever. Forget it.

This is beyond insulting.

Don't forget its based upon operating profit. This gives an of what that has been historically:

https://www.statista.com/statistics/100 ... profit-uk/

But as you say, its of no actual value for the foreseeable future - at best. RMs own business plan doesn't see them in profit 'til 2025 - and that will be assuming everything goes as planned. They actually don't specify their target profit for then either, so they could make £1 operating profit and still hit their predictions. Its designed to grab headlines and help sway that's all.

[chickenwittle]

Colleague ( phantom) shares is all you need to say about this nonsense.

[yubin282]

We get the share after tax, so less than £174. I theres any at all.

[milly]

We get the share after tax, so less than £174. I theres any at all.

Why do you people keep obsessing about paying tax?
The Welfare State has to be funded somehow.

[X_hamster]

The profit share was a complete piss take.

Heralding it as some kind of victory

Also no compulsory redundancies.

No s**t sherlock, thousands of souls have left already, with thousands to follow with what they have proposed.

[Boltonian-White]

Tell me I'm reading this wrong - this looks to be a joke!

First off, its only Royal Mail profit and not IDS Mail - Royal Mail is loss making.

Second - to turn around the company from loss making to profit will take at least a couple of years - well guess what - after 2 years (march 2025) profit sharing stops.

Third - lets say by some miracle R.M made 100 million profit. Well 20% [and why is it only 20% and not say 50%] which is 20 million is set aside for the serfs.

Divide 20 million by 115,000 workers. It comes to £174.

But again - you have no chance of seeing that paltry £174 anyway. Ever. Forget it.

This is beyond insulting.

And why should you be paid profits from a part of the business you don't work for? That's the incentive you see.... make the company successful again and share in the profits of that company. The profits from GLS come off the workers backs because they have shite T&Cs... you want a share of those profits then? Is that what you're saying?

[Flashman_]

The wording of that from RMG makes it clear that this would be for the life of the agreement ie 3 year deal, but that means before and profits are counted, the supposed £350 million loss from this yea will have to be overcome.
What this means is that they could make up to £350 million next 2 years and not need to pay us a penny but shareholders would still get their grand payouts.
As has been said before, we never got a penny when they last tried this stunt, and it will not be any different this time either.

VOTE NO

[k979aaa]

20% of nothing is f**k all!

[Clappedoutpostie]

Knowing this lot they will want 20% of losses from you as well.

On a serious note I think stock market analysts are forecasting RM won’t return to profitability until 2025/6. I’m sure there will be a handful in each office encouraging others to rush around so profits are higher.

[FilthyBloke]

It is a bit like being guaranteed a pay out if the world ends.
Surely the CWU knew nobody was going to be convinced by this?

[Acca Dacca]

[stevejm]

Tell me I'm reading this wrong - this looks to be a joke!

First off, its only Royal Mail profit and not IDS Mail - Royal Mail is loss making.

Second - to turn around the company from loss making to profit will take at least a couple of years - well guess what - after 2 years (march 2025) profit sharing stops.

Third - lets say by some miracle R.M made 100 million profit. Well 20% [and why is it only 20% and not say 50%] which is 20 million is set aside for the serfs.

Divide 20 million by 115,000 workers. It comes to £174.

But again - you have no chance of seeing that paltry £174 anyway. Ever. Forget it.

This is beyond insulting.

And why should you be paid profits from a part of the business you don't work for? That's the incentive you see.... make the company successful again and share in the profits of that company. The profits from GLS come off the workers backs because they have shite T&Cs... you want a share of those profits then? Is that what you're saying?

erroneous assumption on your part amigo - not saying that we should get a share of GLS profits - just emphasising that as its RM profit only there is no chance of realising a profit share before 2025 when the scheme end anyway

[Boltonian-White]

Tell me I'm reading this wrong - this looks to be a joke!

First off, its only Royal Mail profit and not IDS Mail - Royal Mail is loss making.

Second - to turn around the company from loss making to profit will take at least a couple of years - well guess what - after 2 years (march 2025) profit sharing stops.

Third - lets say by some miracle R.M made 100 million profit. Well 20% [and why is it only 20% and not say 50%] which is 20 million is set aside for the serfs.

Divide 20 million by 115,000 workers. It comes to £174.

But again - you have no chance of seeing that paltry £174 anyway. Ever. Forget it.

This is beyond insulting.

And why should you be paid profits from a part of the business you don't work for? That's the incentive you see.... make the company successful again and share in the profits of that company. The profits from GLS come off the workers backs because they have shite T&Cs... you want a share of those profits then? Is that what you're saying?

erroneous assumption on your part amigo - not saying that we should get a share of GLS profits - just emphasising that as its RM profit only there is no chance of realising a profit share before 2025 when the scheme end anyway

Well that's how your post came across matey. You can't change the fact that without covid ( and the parcels boom created by it) Royal Mail will likely never be that profitable again.

[stevejm]

@Boltonian-White
Only for you. Recommend adjusting your antenna so that your perception is properly tuned in.

Basic point is, and it should be clear >>> profit sharing sounds like it might be worth something but it won't. It's worthless as 90% chance R,M won't be in profit before 2025 and maybe later. It's a red herring to make union members think that the deal is better than it is.