Royal Mail shareholders have been advised to sell their shares in the wake of the newly announced pay and pension deal. Yesterday the postal operator announced its board had approved the agreement reached with the Communication Worker’s Union, bringing an end to the long-running pay feud. Employees will receive a 5% pay rise backdated to October 2017, which will also apply to the 2018/19 financial year. They will then see a 2% pay rise in April 2019. Market analyst Jefferies […]
Having fired the starting gun on the sale of its remaining stake in Royal Mail last week, the government is out of the blocks and has sold 15% of its shareholding to institutional investors.
Royal Mail has said it is “very disappointed” that managers have voted to take strike action due to a pay dispute.
The government hopes to give Royal Mail access to the capital it needs to move on its privatisation plans this financial year, business minister Michael Fallon has said.