This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6988973.stm

The article has changed 6 times. There is an RSS feed of changes available.

Version 1 Version 2
Postal union set for more strikes Postal union set for more strikes
(10 minutes later)
The postal workers union has said it will announce further strikes after failing to reach an agreement with the Royal Mail during five days of talks.The postal workers union has said it will announce further strikes after failing to reach an agreement with the Royal Mail during five days of talks.
Industrial action had been scheduled for last week, but was suspended for last ditch negotiations at the weekend.Industrial action had been scheduled for last week, but was suspended for last ditch negotiations at the weekend.
According to the Communication Workers' Union (CWU), while progress had been made in some areas, including pay, it was not enough to avert strike action.According to the Communication Workers' Union (CWU), while progress had been made in some areas, including pay, it was not enough to avert strike action.
CWU members are concerned about pay levels and modernisation plans.CWU members are concerned about pay levels and modernisation plans.
Cash questionCash question
The union had already called strikes after rejecting a 2.5% pay deal, and warned that the modernisation plans could threaten 40,000 jobs.The union had already called strikes after rejecting a 2.5% pay deal, and warned that the modernisation plans could threaten 40,000 jobs.
According to the CWU, the Royal Mail has ended an agreed period of calm, leading to union fears that the company was about to "implement unagreed operational changes".According to the CWU, the Royal Mail has ended an agreed period of calm, leading to union fears that the company was about to "implement unagreed operational changes".
As a result, the CWU said it would "announce further strikes".As a result, the CWU said it would "announce further strikes".
Postal workers want their pay to rise to the national average over the next five years, the union argues. However, the Royal Mail says this would amount to a 27% increase which it could not afford. Royal Mail is now offering a two-year deal worth 6.7%, according to the union.
But the union is unhappy that the Royal Mail is sticking to proposals on pensions including increased employee contributions and later retirement age, which the CWU had rejected.
At the same time the Royal Mail is having to revamp its business as it faces increased competition from rivals after the opening up of the UK postal market.At the same time the Royal Mail is having to revamp its business as it faces increased competition from rivals after the opening up of the UK postal market.
The company argues that the changes are necessary if it wants to better compete and finance the upgrading of its equipment.The company argues that the changes are necessary if it wants to better compete and finance the upgrading of its equipment.