Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It would help if you knew redundancy rules before spouting garbage. Worst case scenario the government steps in and pays it. Basics.
Still not answering the question. Where ? Management.
If clinging onto a theme of…they carnt make us redundant…god help you…where there’s a will there’s a way…they will be looking into ever way they can to do just that…
Saving money comes in two ways.
Change
Job loses
Can't meet
The panicked keep going on about job losses yet not one of them has answered who and how? Just the same old I'll informed waffle about a business they know nothing about . If you keep meet the USO because you don't have enough staff , you can't make people redundant. When the government took back control of the railway companies. Zero redundancies. 24/7 waffle.
ok, so as a RM employee (low ranking) I can tell you its not about pay , its about conditions. I dont like striking the company like any large company will take all our hard won terms and conditions away if it suits them to do so.
The companys sick pay system is open to abuse. But thats becacause its not managed as it should be.
The CWU rep system could be altered with out too much push back from the rank and file, .
Give us 7% , cut back the sick pay from 6 months full pay to say , 3 months full pay then three months half pay
Offer some shares as a lump sum
Revisit everything in, say, 12 months
Or take on a embittered workforce in the run up to Christmas !
Or start looking for a new employment …as you won’t be in a union after losing your job…:-)
A question if Royal Mail goes into administration would that mean the government would have to take it back because if that is the case then I believe that is what DW and TP want . IMO it should never have been a PLC has I said in a previous post even Thatcher didn’t privatise it right now of for a game of golf .
ok, so as a RM employee (low ranking) I can tell you its not about pay , its about conditions. I dont like striking the company like any large company will take all our hard won terms and conditions away if it suits them to do so.
The companys sick pay system is open to abuse. But thats becacause its not managed as it should be.
The CWU rep system could be altered with out too much push back from the rank and file, .
Give us 7% , cut back the sick pay from 6 months full pay to say , 3 months full pay then three months half pay
Offer some shares as a lump sum
Revisit everything in, say, 12 months
Or take on a embittered workforce in the run up to Christmas !
Anger. I suppose in very difficult situations management reverse ferreting cannot be ruled out. However, even if GLS was used to fund RM I am not sure it could do it for that long. I think the losses in 2024 could be around the billion mark. Time is not RM’s side.
As for K it is certainly very plausible that he might try and take over all of RMG as his desired upping to 29.9% is usually a prelude to that. This rather puzzles me as I cannot see there is any NEAR term value in the RM side (which is contained in the subsidiary Royal Mail Group LIMITED). Stripping out the pension asset (which is a rather strange asset) and intangibles gets to tangible net equity at March 2022 of less than £1BN. That will be heavily denuded by losses by the time K gets hold of it. Even with Govt speeding his way if he was to launch an offer next month it will probably be March 2023 earliest he gets his paws on RMG (Takeover rules, counterbids, competition/Govt clearances etc). There will be then more protracted fights with the CWU as losses mount. So I think he might be quite happy for RM to go into administration and walk away with GLS - otherwise he will have to fund RM through GLS or otherwise. I have always assumed he wants to get hold of GLS and has no appetite for long term restructuring of RM which probably involves up front 20k job losses and 10k a year thereafter from an increasingly embittered work force.
There may be extra value over book value in RM’s property. But I assume most near term are needed to operate the business and even if sold would not compensate for operating losses.
However, it turns out it will not be good for the posties. I hope some realism can creep in.
Maximas1 - The question you have to ask is why are the CWU refusing to go to ACAS? What have they got to hide? If they want it resolving then get it resolved?
This is an easy one,anyone with half a brain knows what the out come would be,inc the cwu.
Can you imagine acas saying to the cwu your in the wrong,how bad would that look for them.
Two things.
They don’t want to go to acas as it would put the strikes back to after the busier time
They would lose….
Copied and pasted from the times…will the postie even no about this..
Royal Mail has privately threatened to cut jobs unless the Communication Workers Union agrees to come to the table in an increasingly bitter dispute over pay an
Royal Mail has privately threatened job cuts if the Communication Workers Union does not agree to join the fray in an increasingly bitter dispute about pay and modernization of the 506 year-old service.
Sources said that the CWU has been issued with a “final warning” over jobs after it refused to join talks with Acas. On September 22, the mail operator offered to go to arbitration. Yesterday, talks between the two sides ended in a stalemate.
Royal Mail employs 115,000 postal workers as frontline workers. In August, the CWU called for strikes. It announced this week that it would continue industrial action for 19 more days over the next two-months.
The dispute centers around pay. The dispute has resulted in a 2 percent pay increase for employees.
Teslo absolutely bang on mate my postman who worked 12 years at RMG then moved to DHL could not believe how more organised as a business DHL are ,he enjoys the incentivised way of work and better quality of life within his working hours he has .
@Oli,
What I find weird is and it's something other companies all seem to have in common outside of RMG.
It's the simple fact that all the drivers and delivery guy's for the gig-economy companies, such as Uber, Amazon etc, and even other Parcel Delivery companies such as DPD and Hermes all seem to be around half the average age of the current Postman and related RMG employees.
The younger guy's seem more incentivised, when they're effectively working in their own capacity rather than under the terms and conditions of employment. They earn less, but have that much more freedom, the older generation at RMG have clearly placed and preference in both the comfort and complacency that come's with a monthly salary, and 35-40 hour working week.
Dated 29 September 2021 .Absolutely no reason to sell here at the moment.Market cap of 4.7bn and will make circa 900m for FY, this is massively under valued by the market .Need to see through the short term noise, added a few more at £4.70 , who wrote this on his first post , I wonder Anger LOL
Anger you can’t have a sensible debate without abusive rhetoric so stop your bullyboy tactics and wanting to have the last word because it won’t work Grow Up your Filtered !
Possibly. But looking at it from RM’s point of view they have said that they are not going to cross subsidise RM with GLS. So they would have to go back on that if they were to sell GLS and use the funds to help RM. Further, I would assume that it would make pay negotiations with the CWU much more difficult if RMG was sitting on several billions of cash. I would have thought that management’s preferred route is to demerge GLS which would not result in any cash coming in. However, their hand may be forced if an offer for GLS comes in that they cannot refuse.
A brief update video from DW giving some details of yesterdays meeting and next steps.
Mentions the constructive offer the CWU have made and they will write to the business and members next week with details.
The business have money (couldnt say how much) for pay if more changes. Still not keen on ACAS at this point when agreements are being stopped. Vesa still being raised as a concern.
I took a very small element of positivity from it.
https://www.facebook.com/TheCommunicationsUnion/
The Times reports that RM have given the CWU “a final warning” at the broken down talks today and have threatened job cuts. I rather fear the situation is beyond the point of no return. At best a meeting of minds might just come after a few months but that is too late. The CWU apparently want a no strings inflation rise of inflation ie 10% which is completely unaffordable even if the position might be understandable from a cost of living perspective.
RM has about £1.1Bn of cash but with capex (especially the need to finish Daventry) and losses that will be exhausted by mid/end next year. So it seems administration beckons.
At the current level the share should be excellent value, albeit may go lower. However, investors have to be braced for no dividend and the shares being suspended during administration as the business is sorted out.
Anger you have turned this into a Punch & Judy and you just confirmed it by replying ,you need to read some of the garbage you write because I like others think some of it is just a wind up to the posties but you carry on with your nonsense as I’m not interested in your childish chat so as I said Grow Up and stop coming across as an immature spoiled kid !
Hopefully the short-term bottom is and the talks continue into next week and beyond.
The £ against the $ is much more stable today at around $1.11.
It will be interesting to see if the price can hold, test and possibly break the short-term resistance level at around 1.88-190
Enjoy your weekend.
This turning into a Punch &Judy forum what an absolute load of garbage is spouted on here at present,Grow Up !
Wrong again . It's becoming quite a habit for you lately isn't it. Again you are forming a rock solid opinion on what little information you have as usual. What I am doing this week royal mail are paying for and it benefits me no end and doesn't benefit royal mail . So get your facts straight before you comment. It appears its you that no-one should be listening to .
Hahha I can feel you raging from here mate , calm yourself. I'm not sure what gave you the impression I'm struggling financially because I can assure you I'm not . Unlike yourself , up to your neck with your investment and a poxy 50k equity in your 'right to buy' lol. Why would I not have royal mail pay me on a strike day when I don't actually have to do any work?? And its not my fault the strike was called for a Saturday when I don't actually work anyway. Pen7s
And..... I don't need to make a pack lunch because royal mail are paying for my hotel which also includes a full English for breakfast . Also as I am still on royal mail business I'm not officially on strike ( yes I cleared it with the cwu before you start wetting your knickers) and I don't work Saturdays so tomorrow's doesn't affect me either . So once again , thanks investor's, it has been a lovely week on you ;)
Well it's a lexus actually but isn't that the same post as yesterdays?? Come on mate if your going to wake up angry at the world you need to mix things up a bit, try and make it exciting for yourself. Lol