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£40m wasn't what it was going to cost it was what was going to be saved going forward. There's a difference.
If the VRs are targeted to Ops managers and the same terms apply as in last year's reorg then the terms for Ops was a maximum 2 years pay and this would be nearer to the 57k per manager sum quoted in the earlier post. The 2 year sum is based on length of service and not every manager will meet this criteria.
Don't forget that there are quite a few managers in RM that you probably didn't know existed and are usually "Location Independent Working "on their People Finder profile. Sometimes they show up at our delivery office to use the hot desk facilities if their home internet is slow or they have an IT issue with their work laptop. I like to think of them as nuclear submarines that work covertly and only surface every two or three months.
It will probably be because it factors in overheads that also have to be paid… annual leave, sick leave, computer equipment, gas electric water, cleaning, uniforms, pensions etc.
Where I work the overhead allowance for budgeting projects is 100% of the wage.
£40m for 700 managers? those figures don't add up. Thats over £57k per manager. DOM's don't even get that, let alone line managers who aren't even on anywhere near £30k.
Too bad the price couldn't hold the 4.55 level today.
Hopefully it gets back there soon enough, I may buy in again if it tanks to the low 4.20's
I just saw Royal Mail to make 700 managers redundant which they hope to save 40 million pounds
That's a bit better :-)
Plus loads of stock purchased by the Company yesterday.
541,391
452.60 GBX +16.00 (3.66%)today
25 Jan, 08:12 GMT • Disclaimer
Closing price was 4.36.6.
The Dow has bounced and regained 1100 points from the low of the day. FTSE futures now 7375 up 78 points from the close and 150 from the low of the day 4 hours ago.
Hopefully, it holds the gain overnight and pumps tomorrow.
Excuse typo pleasantly not presently.
Oli. This had been happening frequently of late. A spike occuring at the end of the day which is totally at odds to the end price shown here as has happened again today.
I would be surprised if today's price here changes. Of course presently surprised but I doubt it.
458.83 GBX -2.87 (0.62%)today
24 Jan, 17:09 GMT • Disclaimer