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| Royal Mail union rejects 8.6% pay rise | Royal Mail union rejects 8.6% pay rise |
| (3 months later) | |
| Royal Mail's union has rejected a 8.6% pay rise as a "misleading and unacceptable" sweetener from a company desperate to win over staff ahead of plans to privatise the 497-year-old postal service. | Royal Mail's union has rejected a 8.6% pay rise as a "misleading and unacceptable" sweetener from a company desperate to win over staff ahead of plans to privatise the 497-year-old postal service. |
| The Communication Workers Union (CWU), which represents more than 100,000 Royal Mail staff, said the 8.6% increase in basic pay over three years was "only there as a sweetener to swallow some very bitter pills" including "damaging" changes to their pensions and working conditions. | The Communication Workers Union (CWU), which represents more than 100,000 Royal Mail staff, said the 8.6% increase in basic pay over three years was "only there as a sweetener to swallow some very bitter pills" including "damaging" changes to their pensions and working conditions. |
| Dave Ward, deputy general secretary of the CWU, said: "Our members voted – by a huge 99% – for a pay rise without strings attached yet the company ignores them. | Dave Ward, deputy general secretary of the CWU, said: "Our members voted – by a huge 99% – for a pay rise without strings attached yet the company ignores them. |
| "Postal workers want more security; what's on offer is less. With privatisation looming, the protections Royal Mail have put on offer are not worth the paper they're written on." | "Postal workers want more security; what's on offer is less. With privatisation looming, the protections Royal Mail have put on offer are not worth the paper they're written on." |
| Ward said the company and the government had "reneged" on its promise to secure workers' pensions after just one year. The union said it was "scandalous" of Royal Mail to link the pay deal to previously rejected pension proposals. | Ward said the company and the government had "reneged" on its promise to secure workers' pensions after just one year. The union said it was "scandalous" of Royal Mail to link the pay deal to previously rejected pension proposals. |
| "This is daylight robbery of a further £2bn of pension scheme assets being used to subsidise privatisation," he said. | "This is daylight robbery of a further £2bn of pension scheme assets being used to subsidise privatisation," he said. |
| Ward warned the government, which is hoping to collect a windfall of up to £3bn by privatising Royal Mail before the end of the year, that "industrial conflict is inevitable" unless the company agreed to give the assurances it wants on its members' future. Some big City investors have already let it be known they will not buy Royal Mail shares because of fears of industrial unrest. | Ward warned the government, which is hoping to collect a windfall of up to £3bn by privatising Royal Mail before the end of the year, that "industrial conflict is inevitable" unless the company agreed to give the assurances it wants on its members' future. Some big City investors have already let it be known they will not buy Royal Mail shares because of fears of industrial unrest. |
| Moya Greene, chief executive of Royal Mail, said: "Co-operation is central to the success of the company. This offer represents Royal Mail's commitment to a long-term engagement strategy with the CWU and with our people. | Moya Greene, chief executive of Royal Mail, said: "Co-operation is central to the success of the company. This offer represents Royal Mail's commitment to a long-term engagement strategy with the CWU and with our people. |
| "This is a good deal – good for Royal Mail and good for our people." | "This is a good deal – good for Royal Mail and good for our people." |
| Royal Mail's annual report, due to be published in the next few weeks, is expected to reveal that Greene collected a £500,000 increase in pay to £1.6m last year. | Royal Mail's annual report, due to be published in the next few weeks, is expected to reveal that Greene collected a £500,000 increase in pay to £1.6m last year. |
| The average full-time postal worker's salary is £19,416. This would rise to £21,092 in 2015 if the union were to accept the pay deal which includes a £300 lump sum in December. The company has already agreed to a minimum £100-a-year bonus. | The average full-time postal worker's salary is £19,416. This would rise to £21,092 in 2015 if the union were to accept the pay deal which includes a £300 lump sum in December. The company has already agreed to a minimum £100-a-year bonus. |
| Staff have also been promised a minimum of 10% of Royal Mail shares as part of the most ambitious privatisation since British Gas 26 years ago. | Staff have also been promised a minimum of 10% of Royal Mail shares as part of the most ambitious privatisation since British Gas 26 years ago. |
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