Royal Mail workers stamp seal of approval on share scheme

[TrueBlueTerrier]

Article Now removed

Royal Mail staff will see themselves involved in the largest employee shares scheme in 25 years.

Business Secretary Vince Cable announced yesterday (22 September 2010) that at least ten per cent of the shares in the company will go to its employees.

Over 150,000 employees at Royal Mail will benefit from the plan, which will be the largest employee shares scheme of any privatisation for 25 years, and second only to the privatisation of British Telecom in 1984. The new commitment will be written into the Postal Services Bill, which the government plans to introduce in the autumn.

Cable outlined that the Royal Mail is struggling from email and falling mail volumes, a “dire” pension position and a lack of money to invest. He said the only way to save Royal Mail is to bring in new private capital to support modernisation and growth opportunities.

Cable commented: “We also have to tackle the multi-billion pound pension deficit and put in place lighter touch regulation that gives the company a good chance in the market and protects the universal postal service that so many of us depend on.

“But just as important is the engagement and participation of staff in turning this company around. That is why our legislation will include a specific provision to make available at least ten per cent of the shares in Royal Mail to employees, as part of the privatisation process. This is a once in a generation chance to transform the culture at Royal Mail – energising everyone and allowing employers and employees to share in the company’s future success.”

[TrueBlueTerrier]

They changed the name of the article and its link - I wonder if the brief Facebook interest made them do it:

http://www.thegrapevinemagazine.com/?newsid=3264" onclick="window.open(this.href);return false;

[stokes11eg]

Ha.Ha, if anybody falls for this they are crackers--and what does the make available mean? Probably he wants us to buy shares in this almost bankrupt company!

[borders]

i read somewhere that they havent decided whether to give us the shares free or offer them to us at a discount .
how many posties have got a few thousand pounds lying around to purchase them ?

[fishtank]

i read somewhere that they havent decided whether to give us the shares free or offer them to us at a discount .
how many posties have got a few thousand pounds lying around to purchase them ?

The difference between turkeys voting for Christmas and turkeys having to pay for the stuffing themselves.

[POSTMAN]

i read somewhere that they havent decided whether to give us the shares free or offer them to us at a discount .
how many posties have got a few thousand pounds lying around to purchase them ?

It wont be like that,it will be a save as you earn type scheme,a set amount out of your wages each week.

[stokes11eg]

Postman-Given that in real times our wages have been decimated, overtime as such, or paying for it is going down the tube, we'll having nothing left to buy these worthless shares with! This all smacks of the last gasp of a dying man-----R/M that is not you. unable to find private investors, they are just expecting us to bail them out!
and of course if anyone's daft enough to fall for this, their 'investment 'will go the same way as the pension. How many workers on here would now trust this company with anything, never mind their money!

[clashcityrocker]

They changed the name of the article and its link - I wonder if the brief Facebook interest made them do it:

http://www.thegrapevinemagazine.com/?newsid=3264" onclick="window.open(this.href);return false;

That link has gone as well.
Doubt if the shares will move that quickly.

[POSTMAN]

How many workers on here would now trust this company with anything, never mind their money!

If you look at the workforce,well what will be left of it you will be suprised how many go for it.
Say the shares (For easy money sake)are £1.50 on the open market and we get to buy some at £1.00 which is roughly how it works,many will jump on it.
I have been involved in a save as you earn share scheme before,it works.

[stokes11eg]

problem there is that if they keep replacing full time staff with part time and casuals, many people will just not be interested enough.

[Gazabarnes]

i read somewhere that they havent decided whether to give us the shares free or offer them to us at a discount .
how many posties have got a few thousand pounds lying around to purchase them ?

Royal Mail are giving you nothing because they have wound up the pension scheam for B/C replaced it with a pile of shite which is a loss greater than any meger 10% share dividend can ever return