The main postal union has attacked the latest pay rise for Royal Mail chief executive Adam Crozier, which comes at the same time as a fall in profits.
The main postal union has attacked the latest pay rise for Royal Mail chief executive Adam Crozier, which comes at the same time as a fall in profits.
Figures in the Royal Mail's latest annual accounts, released on Tuesday, show that Adam Crozier saw his pay rise by 26% in the year to 31 March.
Figures in the Royal Mail's latest annual accounts, released on Tuesday, show that Adam Crozier saw his pay rise by 26% in the year to 31 March.
Mr Crozier pocketed £999,000 for the 12 months, up from £790,000 in 2005-06.
Mr Crozier pocketed £999,000 for the 12 months, up from £790,000 in 2005-06.
The Communication Workers Union called for a review, but the Royal Mail said Mr Crozier deserved the increase.
The Communication Workers Union called for a review, but the Royal Mail said Mr Crozier deserved the increase.
'Review needed'
'Review needed'
In addition to the Royal Mail seeing profits fall by a third for the 2006-07 financial year, it was recently hit by strike action over staff pay and job security.
In addition to the Royal Mail seeing profits fall by a third for the 2006-07 financial year, it was recently hit by strike action over staff pay and job security.
The reason Adam is paid what he is paid is that he runs a big company, he does a bloody great job and I'm glad we've got him Royal Mail chairman Allan Leighton
The reason Adam is paid what he is paid is that he runs a big company, he does a bloody great job and I'm glad we've got him Royal Mail chairman Allan Leighton
The series of strikes ended after the Communication Workers Union (CWU) accepted a pay rise for its members of 5.4% from 1 October, and an extra 1.5% from next April.
The series of strikes ended after the Communication Workers Union (CWU) accepted a pay rise for its members of 5.4% from 1 October, and an extra 1.5% from next April.
The Royal Mail had initially offered 2.5%.
The Royal Mail had initially offered 2.5%.
"Postal workers have had to take eight days of strike action this year to get any pay rise at all, while the chief executive receives £1m," said CWU Deputy General Secretary Dave Ward.
"Postal workers have had to take eight days of strike action this year to get any pay rise at all, while the chief executive receives £1m," said CWU Deputy General Secretary Dave Ward.
"It's time to review pay at the top of the business."
"It's time to review pay at the top of the business."
'Bottom end'
Royal Mail chairman Allan Leighton defended Mr Crozier's pay.
Royal Mail chairman Allan Leighton defended Mr Crozier's pay.
"The reason Adam is paid what he is paid is that he runs a big company, he does a bloody great job and I'm glad we've got him," said Mr Leighton.
"The reason Adam is paid what he is paid is that he runs a big company, he does a bloody great job and I'm glad we've got him," said Mr Leighton.
"Getting good people to run this company is very difficult.
"If you compare his package to FTSE 100 chief executives then it's at the bottom end, not the top end."
Mr Crozier is additionally in line for a bonus of up to £1.1m, to be paid out next year if the Royal Mail meets certain performance targets.
Mr Crozier is additionally in line for a bonus of up to £1.1m, to be paid out next year if the Royal Mail meets certain performance targets.
He took up the top job at the Royal Mail in 2003.
He took up the top job at the Royal Mail in 2003.
Before that, he led the Football Association.
Before that, he led the Football Association.
Has the salary gap between managers and workers become too wide? Are you a Royal Mail employee or customer? Send us your comments and experiences using the form below.
Has the salary gap between managers and workers become too wide? Are you a Royal Mail employee or customer? Send us your comments and experiences using the form below.
