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Interesting.
Suggested agenda for shareholder meeting, feel free to add to it:
Quality of service - FAIL
Rebuilding trust with our people and unions - FAIL
-- Growth: Grow our business - FAIL
Reducing costs in line with lower volumes - FAIL
'203 structural revisions did not go well and had a negative productivity impact of 7.2%.' - FAIL
Productivity - FAIL
Anticipating and responding to market volume - FAIL
Net promoter score - FAIL
Trust score - FAIL
Profit - MASSIVE FAIL
Dividend - FAIL
Relationship with OFCOM - FAIL
Relationship with government - FAIL
Relationship with major clients - FAIL
Relationship with the truth - FAIL
Share buyback - FAIL
Managing sick absence - FAIL
Media relations - FAIL
Industrial relations - FAIL
Quids in - Success
No chance, st has already said it's a final offer. Cwu have only agreed to meet to force him into an even more embarrassing position. From what I hear, Simon doesn't have the confidence of those around him, except for Williams who has to back him as he was his choice. Out soon, and sooner the better.
A few on here that are so blinded by a sociopathic hatred of unions and their member's that they can't see the catastrophic failure of management that's happening.
Anyway, short closed for now, so I'll be off.
Simple Simon's strategy has three key pillars:
-- Customer: Improve and simplify our customer offering through great quality of service - FAIL
--Trust: Rebuilding trust with our people and unions - FAIL
-- Growth: Grow our business, our share, and the market through greater capacity and new innovative products and services - FAIL
Track and trace website down for a week - FAIL
As a result of our inability to reduce FTE costs in line with lower volumes quickly enough in the period, our cost saving initiatives targeted for the full year have now reduced from c.GBP350 million to c.GBP200 - FAIL
'203 structural revisions did not go well and had a negative productivity impact of 7.2%.' - FAIL
Zovirax delivery - FAIL
FY 21-22 Productivity in the year was down 0.2% year-on-year as the business was slower to take out costs in Delivery due to lower-than-expected volumes following a faster-than-expected reopening of the UK High Street and lower than anticipated benefits from Pathway to Change. - FAIL
Net promoter score - FAIL
Trust score - FAIL
Let's face it, the clown needs to go. He rode his luck through COVID and got carried away with himself thinking he was doing a great job. Here's his track record:
IDS H1 operating loss of GBP163 million (H1 2021-22: GBP311 million profit)
H1 22 operating loss at Royal Mail of GBP219 million (H1 2021-22: GBP235 million profit
QoS rubbish and huge ofcom fine en route
£200m wasted on share buy back @£5 which could've funded a pay rise to match inflation
'Confident there has been a structural shift in parcel volumes since the start of the pandemic' TS 25/01/2022
And then....
'Parcel volumes declined 2% due to unwinding of temporary benefits from COVID-19 lockdown' TS 17/11/2022
'In the current period the average total sick absence rate was 7.1%. In H1 2019-20 (prior to the pandemic) average total sick absence was 5.3%.'
Rebuffed by govt on 5 day deliveries
Loss of major clients
Needs paid lackies to nurse him through an interview and all on £62k a month.
12 days of industrial action = £200 million of losses so far this year from industrial action.
Do one Simon.
Anger, lol, I do hope you didn't get your 1% payrise = £40m of costs by taking 1% of group operating costs of £3938m, because that would be both incredibly naive and extremely ignorant (I'm convinced now that you are Thompson:)). You know what they say about people who live in glass houses.
PS, fyi, I left the job to train as an accountant.
Anger
Are you Simon Thompson? Like him, you don't seem to consider that employees are stakeholders too.
The whole situation has been contrived, the £200m wasted on share buy back could've paid for the payrise that postie's deserve.
The results of the current pasting haven't yet been concluded. Let's see who laughs last.
And as you say, you don't know any better, I was a postman 1988-89 and earning the equivalent today of £65k pa, hence my respect for CWU and people who stand up for themselves and their rights. Good luck to them.
So it appears Simon, for his £62k a month salary, needs prompts from paid lackies to make sure he knows he's talking about https://mobile.twitter.com/CWUnews/status/1598080853405728770?cxt=HHwWhIDQ2baEw60sAAAA
Now I'm not against people being that sort of money, but it has to be earnt by being a special, which this bloke clearly isn't. His two big ideas seem to have been:
1) Rather than negotiate a solution that keeps all stakeholders happy, contrive a situation to smash the union like the CEO before him did and ended up with a right royal pasting from the cwu. I'm sure you're all aware of the definition of madness.
2) His other big initiative, you may remember, was to spend £200m on buying back shares in royal mail. The share price was £5 at the time, so what a great decision that was.
I'm not a fan of Thompson, not because my heart is with the cwu and the postie's, but because his lousy decisions have led to a collapse in the sp, despite kretinsky in the wings, a long lasting souring of employee relations and a (permanent?) exodus of customers. He ain't up to this role, time he was pushed.
This is no longer, and maybe never was, about a pay deal, it's solely about smashing the union to oblivion. The costs so far could easily have funded a pay rise in line with inflation. When moya was in charge, she knew she could take a little each year and keep the city and union happy. Rico came in, bull in a china shop, left with his tail between his legs and a bloody nose. Thompson came in, tried buttering everyone up with his 'hi team' vlogs but his mask has slipped and we can now see the egotistical, sociopathic Mr Hyde. Union position will have to harden with so much at stake. Can the company withstand the long term loss of revenue from the disruption and bad feeling caused in December? It will be hard to win back. I wonder exactly what Simon thinks will be left of royal mail by the end of this?
The negativity towards the union on CWU Facebook, which could of course be contrived by managers and Royal Mail stooges (their own 77th brigade), makes me think that Thompson only needs to hold out until end of December and he'll win. The union and most members won't go down without a fight, therefore expect it to get very bitter over the coming weeks.
I believe both paddington and mount properties have been sold:
https://investegate.co.uk/royal-mail-plc--rmg-/rns/exchange-of-contracts-for-mount-pleasant-plots/201708301715443554P/
https://www.investegate.co.uk/royal-mail-plc--rmg-/rns/disposal-of-paddington-site/201410141344412666U/