Postal workers 'sceptical' of Royal Mail share offer

[TrueBlueTerrier]

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ROYAL Mail workers are said to be "sceptical" of shares offered in the face of privatisation.

Union bosses said the 372 staff at the Eastern Avenue site, which is up for sale, were demoralised and many dreaded coming to work.

Yesterday, Royal Mail announced around 1,300 employees in the GL postcode area would receive free shares as it was floated on the stock market in the largest free allocation of its kind.

Moya Greene, chief executive officer of Royal Mail Group, said: "Our people are the heart of our business.

"By owning 10 per cent of the company, together we will have a meaningful stake in the business.

"I think this will engage everyone and encourage us to continue to work together to build a great future for Royal Mail."

But Communication Workers' Union secretary for Gloucestershire Paul Trehearne described the offer as puff.

He said: "Postal workers have been caught in the past with previous share schemes and so are sceptical.

"Eastern Avenue has become one of the most demoralised work places. It is very sad and sombre, with most people dreading coming in to work.

"There are colleagues leaving on a weekly basis and it is like the breaking up of a family."

Gloucester MP Richard Graham is the secretary of the all-party parliamentary group for post offices.

He said: "It is true that privatisation is not always the right way forward for public services, and I am clear that it is not the way forward for post offices.

"I welcome the Minister's complete reassurance that post offices will remain in public service. However, I believe the only way for the business of Royal Mail to grow is to have that chance to invest in new technology."

Workers will be balloted about strike action later this month.

[UnhappyGremlin]

ROYAL Mail workers are said to be "sceptical" of shares offered in the face of privatisation.

Oh, it's been spotted then?

Union bosses said the 372 staff at the Eastern Avenue site, which is up for sale, were demoralised and many dreaded coming to work.

That's country wide, that is.

Moya Greene, chief executive officer of Royal Mail Group, said: "Our people are the heart of our business.

I thought we were the soles of RM's feet? Well, we're always being trodden on.....

"By owning 10 per cent of the company, together we will have a meaningful stake in the business.

But no job....or a job at lower levels of pay etc..

"I think this will engage everyone and encourage us to continue to work together to build a great future for Royal Mail."

Conclusive proof, IF required (it isn't) that the RM board and the CEO in particular are deluded and out of touch with the employees.

The only great future here would be for the shareholders. Full stop.

"Postal workers have been caught in the past with previous share schemes and so are sceptical.

Just one of the reasons we aren't happy with the proposed flotation.

He said: "It is true that privatisation is not always the right way forward for public services, and I am clear that it is not the way forward for post offices.

Not always? Never. I can't think of one privatised company that has improved properly under private ownership. Except for the shareholders. Service always suffers, and prices always rise, and jobs always go, pay gets cut, T&C's get obliterated.....

I believe the only way for the business of Royal Mail to grow is to have that chance to invest in new technology."

Which does NOT require private ownership. That investment could come from profits.

Don't think sceptical really covers it. We are way past sceptical.

[pants123]

the whole share offer, is a big CON.... its designed to get the postal people on board... until it's fully privatized then... BOOM.... the shares are worth NOTHING............. its that simple... IT'S A CON..

[Brain Fury]

the whole share offer, is a big CON.... its designed to get the postal people on board... until it's fully privatized then... BOOM.... the shares are worth NOTHING............. its that simple... IT'S A CON..

I agree that it's designed to get employees on board but it is for both during and after privatisation. The hope is that you'll be less likely to want to strike etc if the result is to lower the share price. If the shares are worth nothing then that will be true for all shareholders i.e. those that have bought them as well as employees that have been given them.

[Sidley]

In those three years that one has to wait to sell the shares, how many people will have been driven out of the job by bullying, unachievable workloads and reduced pay and conditions?