Shares/certificate from years ago

orsm · Post by **orsm** » 15 Dec 2016, 14:11

Hi guys,

I thought I would join as this seems the best place to ask this question.

I worked for royal mail 15 old years ago, something is going round in my head telling me I was issued some sort of bond certificate/bonus/share thing for quite a few hundred quid, we are talking year 2000 or possibly before, I cant quite remember. Does anyone remember such a thing ?

Cheers

Jeff.

Post by **RobertT** » 15 Dec 2016, 15:38

Are you talking about Colleague Shares?

It was just a fancy name for a bonus scheme that didn't pay out!

Post by **teesdale** » 16 Dec 2016, 23:18

Just as it was going to be paid out after a wait of three or five years, one of the two, Moya Greene very new to the job at the time said there was not enough money to pay out on the scheme. It was known as the phantom shares scheme and thats exactly what it became. When I think of Moya Greene this event always comes to mind first. It was a knee jerk reaction as she got her new job and she had already been recruited on the basis that she would be the one to privatise the Royal Mail. She called a halt to what was to be over a £1000 per postman payout a bit to late as people at the time taking redundancy got the payment while everyone else were left with nothing. The CWU did warn that the whole thing was s**t which did soften the blow a bit. The CWU did get an agreement that £100 would be paid every Christmas which is why full time people will be getting the £100 plus the £100 Christmas bonus next week from then on. Of course it will take over ten years to get back what was stolen by Moya Greene.