Royal Mail pay deal is reached
A conclusion to the enduring row over pay, pensions and conditions at Royal Mail.
A overwhelming majority of workers have accepted the deal – which'll see wages rise by nine per cent over three years, and also give workers legal protection on their terms and conditions.
The Communication Workers Union (CWU) has announced that 94 per cent of staff voted in favour of the agreement, after months of negotiations which have often tussled for the spotlight as the company planned and executed its stock market flotation.
The resolution puts an end to the threat of strike action.
CWU deputy general secretary, Dave Ward, said the deal was "ground-breaking”.
We have achieved extensive and unprecedented legally binding protections for employees that not only strengthen their job security but also shape the values and principles that the Royal Mail Group will operate under as a private organisation.
Moya Greene, chief executive of Royal Mail, said:
I am pleased that our people have voted in favour of the terms of the agreement.
This is the first critical step to provide long term stability and certainty for Royal Mail, our employees and our customers. Now the hard work starts. Working together we will create a strong foundation for the continued success of our business.
The agreements, which are legally binding, will be reviewed in 2019.