no privatisation of RM for 10 years?

[Edward Hunter]

Anybody go to the recent meeting with Moya Greene where she said this (big meeting in a west London hotel)? Apparently though she said they are still looking for outside investment which seems a bit of a contradiction. Also the company is the healthiest its been for a long time as well. Sorry for being so vague,but two seperate people have told me this and im suprised it hasnt been on here.

[postman_jack]

Heard the opposite, there's supposed to be a meeting in Bristol on Monday and Tuesday with Moya Greene to announce privatisation according to my DOM.

If this is true surprised the press ain't picked this up!

[fishtank]

Privatisation is still full steam ahead.
Royal Mail have been recruiting financial advisers and PR consultants left,right and centre for the last 6 months to help them with the sale.
The only question is what form will the sale take.

[redman]

Privatisation will happen later in the year in my opinion, around August is my guess. Floatation and discounted shares for employees. Although we won't be allowed to sell for a given period, as I would imagine the majority of Royal Mail staff will want a quick profit. Unfortunately this won't happen.

I still think part of RM may be sold seperately, though this is not the prefered option. The problem is nobody wants deliveries, it doesnt make money and is costly.

[hubbahubba]

If its a floatation,as we are still working for the same company but with different ownership will we have to sign new contracts as we have a new owner,or will we just carry on as we are?

[redman]

If its a floatation,as we are still working for the same company but with different ownership will we have to sign new contracts as we have a new owner,or will we just carry on as we are?

I think we will almost certainly be given new contracts.

[newtimes]

If its a floatation,as we are still working for the same company but with different ownership will we have to sign new contracts as we have a new owner,or will we just carry on as we are?

I think we will almost certainly be given new contracts.

I am not a corporate lawyer, my understanding is a limited company is like a person, it can sue or be sued, your contract is with the company and not with the share holders who own the company. Through time the board of directors who steer the company and report to the shareholders may bring in new contracts, then a company lawyer would be able to give legal advice on what can or can not be done in their view. Ever seen a poor company lawyer.

[fishtank]

It's unlikely your contract will change immediately no matter how we're sold.
A far more likely scenario is an increase in the constant chipping away at our terms and conditions we are already witnessing starting with the MTSF agreement moving on to sick pay entitlement then eventually through to general pay and allowances.

It's very seldom you see a "tear up and start again" scenario with a major employer like us,that tends to be very messy but like everything i suppose you can't rule it out completely.

[hubbahubba]

Slightly off topic,but does anybody know if BT or any other big company sell offs resulted in a mass offer of EVR/VR or similar,seeming as the biggest cost to any company is the workforce?

[fishtank]

Employment in the Electricity industry fell from 127,300 at privatisation to around 66,000 by 1996/97. . In BT employment declined from around 238,000 at privatisation to 124,700 by 1999, and in British Gas from about 92,000 at privatisation to 70,000 by 1994.

A sobering article....


Restructuring at British Telecom
http://www.eurofound.europa.eu/eiro/200 ... 03103f.htm" onclick="window.open(this.href);return false;

Following privatisation in 1984, management at BT embarked on a programme of organisational change which had significant consequences for employees: employment fell from 240,000 at the time of privatisation to 170,000 a decade later; collective bargaining over pay and conditions was decentralised to divisions; a number of the firm's new subsidiary companies refused to recognise unions at all; and shift patterns were changed so as to allow management much greater flexibility in the deployment of labour. In the mid-1990s, BT, now operating in a much more competitive market than hitherto, particularly in the mobile and business markets, continued to shed jobs in response to pressure from the financial markets to cut costs...........

[cyclemech1]

It's unlikely your contract will change immediately no matter how we're sold.
A far more likely scenario is an increase in the constant chipping away at our terms and conditions we are already witnessing starting with the MTSF agreement moving on to sick pay entitlement then eventually through to general pay and allowances.

It's very seldom you see a "tear up and start again" scenario with a major employer like us,that tends to be very messy but like everything i suppose you can't rule it out completely.

I went through a privatisation years ago at London Transport (Buses).

What happens is that management offer you a bribe (via the Union) to change your contract, lowering your wages and terms and conditions.

Most people vote to accept the bribe but then regret it soon afterwards when the bribe's all gone.

[Martin Walsh]

it is far from cut and dry , Moya Greene at Heathrow last weeks tried to in my opinion mislead the 800 front line staff by not mentioning privitisation once instead she spoke of raising capital without highlighting how. it was only when she was asked the direct question from a post women that she responded by saying she did not like the word privitisation and she wanted to keep the jobs employed by Royal Mail with some shares to pension funds who invest in the long term rather than chase a short terms profit.

Again more rumours there was no confernce in Bristol , there was an operations and modernisation conference in Birmingham yesterday and today. It would be fiat to say that Dave Ward shocked Royal Mail with his speech yesterday highlighting the bullying culture , the failure of delivery revisons , the need for investment in failing revisons , that members needs to be rewarded with money not bronze and silver rewards from WCM and the unions opposition to privitisation and next weeks policy forum in Liverpool and the fact that we could be balloted for Industrial action if progress is not made by our conference in April.

Moya was flushed and went off script as her auto quo stated in responding to Dave. She also said whilst they have been talking to protential investors there was nothing guaranteed as investors could pick and choose especially pension companies . She stated she would not know until the Fall of this year but certainly she was not convincing in knowing whether the complained can be sold at the right price for the Government especially now the triple A rating is not there.

So the jury is still out , certainly there is not a sell any time soon and some believe if there is going to be sell off it will be for a minority share.

[pants123]

thanks for the info, dingo..... nice to see Dave ward making it known, bullying and harassment.... impossible work loads.. and ridiculousness expectations of staff... Moya got a taste of how bad it is in delivery, needs to come of her ivory tower.. and still waiting for money from the last agreement 2010, how, how a new deal is being discussed i don't know..

[Martin Walsh]

Cheers pants hope your feeling better

[Wessex]

Heard the opposite, there's supposed to be a meeting in Bristol on Monday and Tuesday with Moya Greene to announce passivisation according to my DOM.

If this is true surprised the press ain't picked this up!

Ah passivisation , so she will announce that all have been made passive then Definitely a precursor to any privatisation of a state asset