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CWU Reaction to Royal Mail Financial Results
10th December 2009
The Communication Workers Union today (Thursday) welcomes the clarity that Royal Mail's six month financial results bring. CWU believes that the results show that postal workers are working harder than ever and have been key to delivering successful change across the business.
Dave Ward, CWU deputy general secretary, said: "These financial results betray the myth that the CWU has been blocking change.
"Postal workers are now working harder than ever before. We believe they deserve to be rewarded for the success they have brought to this change process which has delivered a 4 per cent increase in half year profits. A pay freeze is no way to thank staff who have seen colleagues leave and workloads rise.
"On pensions, we are equally daunted by the scale of the deficit. The government must take responsibility and honour its commitment for the deficit which will allow the company to continue with a modernisation programme which increases profits, quality of service and greater innovation in products and services.
"We believe that the Post Office would greatly benefit from sole ownership of the financial services which play an important and growing part in generating revenue and profit. A Post Bank which returns all profits to the Post Office, instead of being split with the Bank of Ireland under the current model, is the best way of securing the Post Office's position as a leading provider of trusted financial services."
CWU is in continuing talks with Royal Mail, chaired by Roger Poole, to reach an agreement on further modernisation plans for 2010.
