Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Another cost for the business will be VR payments for the 2000 managers who will be losing their posts very soon. I appreciate that the long term savings will be circa £130m per annum but the initial outlay could be anywhere between £130m and £260m depending upon the VR packages on offer. As I understand it, an operational manager would be in line for up to two years salary and non operational managers get up to one year. If the redundancies are made before the end of the financial year then this will show up on this year's accounts.
It's a strange situation, if true, that the more parcel volume the more money we lose. I don't see the point of it all. Why not just double the prices and lose half the work to competitors? Same cash turnover with half the cost. I often see yorks go out with less than 10 oversized parcels on. Last week i saw a York of tree stakes being posted to Scotland. We are already over stretched and failing every night. We need to reduce volume and the best strategy is the bump the prices up. Why offer a service that loses you money?
We will see in a few weeks how good or bad all these extra parcels are doing to RM finances.
Ispy, only one post so it could be an account that was created to cause trouble? Initially I thought that walkthelastmile might be an employee but I'm not sure now.
So a UK lockdown until the beginning of December at the earliest. I am waiting for a deluge of parcels especially as a large proportion of the country will be sitting at home with their furlough pay, looking at the internet and ordering for Christmas. RM will almost certainly bring the Christmas casuals in earlier this year but is there enough office space to work safely indoors? No doubt that the non employee investors will be rubbing their hands together at the high volumes but that's going to be negated by higher staff, PPE and outbuilding rental costs.
With the low percentage volumes of parcels automation I wouldn't be surprised if RM post even more losses early next year.
@ Walksthelastmile.
Of course my workmates and i will do anything asked of us.
And at our finishing times, we will go home.
So pretty much as it is now.
Your point is?????
Walkthelastmile, apologies for shooting your post out of the water but Terry Pullinger stated as far back as March 2020 that the CWU would not support or call for industrial action during the pandemic. Regarding working conditions both employers and employees are obligated to abide by the Health and Safety at Work Act and the Industrial Relations framework. If you are facing issues in the workplace then speak to your CWU rep.
Of course none of the above has any bearing on the share price. Perhaps you should raise any IR concerns on RM Chat?
It is obvious by now that the cwu hasn't got the guts to call a strike. Management can do anything they want. The workforce will have to do anything asked of them if they want to keep their jobs.