Royal Mail workers vote against privatisation

[TrueBlueTerrier]

http://www.bbc.co.uk/news/business-2297 ... um=twitter" onclick="window.open(this.href);return false;

Royal Mail workers have voted strongly against the government's proposals to privatise the postal group.

Of the 112,000 workers who voted - a 74% turnout - 96% rejected the plan, which could see the firm float on the stock exchange next year.

Workers also voted to boycott delivering competitors' mail.

Union leaders pointed to improved profits as evidence that privatisation is not needed to turn the Royal Mail's fortunes around.

Last month, the company announced operating profits had more than doubled to £403m in the year to the end of March.

"This company is flourishing in public ownership... so why privatise this profitable company," said Billy Hayes, general secretary of the Communication Workers Union.

"Today's ballot shows we have resounding support for all the union's policies."

Business Minister Michael Fallon said he was "disappointed" by the vote, but highlighted the fact it was "only a consultative ballot, not a mandate for action".

"Everyone agrees that Royal Mail needs to change if we are to protect the future of the six-day-a-week, one-price-goes-anywhere service. To do so, Royal Mail needs future access to private sector capital to meet the challenges of a changing postal market."

Last year the Royal Mail's delivery business returned to profit after several years of heavy losses. The rise of email has led to a fall in demand for posting letters and that has hit the company hard.

However, the recent turnaround has resulted largely from an increase in parcel deliveries from online shopping.

[Spartacus]

74% is a very good turnout. the result is as expected.