Member Info for OliGarch

AngerSharkz, "you were right about one thing though….the company is losing around £1m a day".
So, the UK operation has gone from making just over a million a day to losing a million a day. It doesn't take the brain of Lloyd George to work out that it's a catastrophic failure of management. They have failed the shareholders, the employees and the general public but it's the employees who are in the wrong?

"Thompson has been on workplace social media saying that all social media and media leaks should be stopped."
I couldn't stop laughing when I read that. So the very person who loves social media and encouraged 100,000+ rank and file (non managers) to sign up to the RM UK propaganda channel wants radio silence.....lol
Redceo, as I pointed out last week, Thompson is a social media loving narcissist. The union have also been very clever with the use of social media for propaganda purposes so it's pretty even on that score.

It was posted on this forum a little while ago that the average RM UK worker costs around £40kpa whilst it is around £47kpa for GLS. I believe that these figures were taken from the financial results?
This would appear to contradict the link below?
https://cwue5.org/2019/09/06/modern-day-slavery-at-gls/

AngerSharkz, you could be right. 10,000 may be followed by another 10,000? Thompson is embarking upon a "rightsizing" plan but the conundrum is going to be how low he can go on the staffing before the whole thing implodes and becomes unsustainable and indeed if he will be allowed to let this happen?
it will certainly be interesting to see where this takes the UK operation.

Proximity to Piccadilly Station very important?

Salve Maximus, I was missing your daily posts prophesying (with some relish) how we would all be working harder/on the dole etc....
A few months ago, I asked an open question on this forum about how many posts would need to go to make RM UK a viable operation. Nobody had an answer but it looks like the correct answer will be 10,000 FTEs? This should save the UK operation between £350m and £400m going forward? Hopefully the USO will be adjusted to suit the operation?

Thanks for the update Hounddog.

The CWU still has a training facility at Alvescot (RAF Brize Norton) as far as I am aware?

Scampthedog, Simon Thompson is, like most of those who put themselves in the public domain (politicians, television personalities etc), a total narcissist who thrives on having an audience to preach to. Whether he remains in post or is put on gardening leave and replaced by another revolving door CEO makes very little difference really.
The fact that he has taken a "break" from his beloved Royal Mail Workplace says a lot though. Personally I think that the CEO having direct social media contact with the rank and file was always going to end badly.
I wonder if this break was an order from higher up the food chain?

What do you mean "finally" Scampthedog?
Some of us have been posting that Thompson is in the back pocket of VESA for a while now.

Just throwing this out there and a point for discussion.
As the first and second ballots and strike action are time limited (I would have to look up the rules and timings), who would rule out a third ballot on redundancies which would take things into December.

Wolves, the Tories are an absolute disgrace. The UK had no real functioning Government for about six months whilst the population have had a cost of living crisis. Hopefully the UK population and especially those "red wall" voters will not have short memories.
Notwithstanding, I reckon Bozo will be back in number ten next week.....lol

"It's no wonder he (Thompson) excuses himself from the dispute meetings, how can you negotiate with people when the other side is resorting to childish pettiness and pranks like that?"
Thompson is a well paid CEO of a FTSE 250 company. He should be able to rise above the"petty childishness" and concentrate on the task in hand. Unless of course that task is to execute the wishes of Williams and VESA? Nonetheless, he will be handsomely rewarded, win lose or draw.

Rural "Royal mail are just paying for my labour, if they don't want my labour they can replace me with someone else, if I don't want to work at royal mail I'll take my labour somewhere else, no big deal."
A great point.
It's currently an employee's market.... mainly thanks to Brexit.....the NHS can't get enough staff.....my eldest son will change employers for 20p an hour more..... has a new employer every month.....hands his notice in on Friday and into a new job on the following Monday.....his sister is exactly the same in the care home scene.....my local Bupa dentist has long standing vacancies for two dentists and two clinicians despite being a university city that churns dental qualifications out every year....of course it won't last forever but neither will Truss....lol

I believe that one of the reasons the CWU had for holding two separate ballots was so that the "terms and conditions" (second) ballot could extend the potential strike period (of twelve weeks) right up to Christmas Eve.
According to the UK Government website....
"You can claim unfair dismissal at an employment tribunal if you’re dismissed for taking industrial action at any time within the 12 weeks after the action began."

Royal Mail Workplace....was originally only used by managerial grades. Then Thompson had this wonderful idea of allowing access to all RM staff with Jenny Hall encouraging staff to log on with the promise of breakfast/coffee vouchers and prize draws. What Thompson actually wanted was to be able to spread information to the rank and file without going through the management network or the union and virtually every post was fact checked by some very keen posties.
The overall impression that I got was that the CEO was spending vast amounts of time on social media when he should have been maintaining a steady hand on the tiller using smooth actions to avoid any danger. Now, we are where we are although I still maintain that this is en route to his pre chosen destination.

Thanks for your thoughts Scampthedog.
Okay, so back of a fag packet calculations here.
The last audited set of financial results were along the lines of £12.5bn turnover with people costs of £5.5bn so 44%. You mentioned in your earlier post that most companies work to around 15% of turnover for staff costs which would be just under £2bn. That's a big difference especially when RM UK were only making a net £416m.
So if we forget about anything prior to April 2022, the Q1 RNS announced a £92m loss for Q1 which is just over £1m per day. The H1 RNS announced a £219m loss of which £70m was due to IA, so one could argue that this would have been £149m plus IA. Factor in a September dividend payment of £127m and it would have only been an operating loss of £22m?
I would guesstimate that the loss of 10,000 FTE posts between now and August 2023 will potentially be a year on year saving of £350m to 400m including NIC and pensions contributions although it doesn't state whether these posts will be a mix of OPG and management posts. Notwithstanding, a people costs saving of 7% will help to revive profits however it will need to be the correct 7% otherwise it will place an even heavier burden on the remaining 93%. Meeting the targets set by OFCOM could also provide a challenge if there are not enough staff in the right areas of the business both in terms of employment status and geography.
All in my opinion of course and happy to be challenged and corrected on the figures.

AngerSharkz, my post wasn't aimed at you, it was for Quaximus......
DIL
Always take a canoe as the water may be deeper than you think....

What I can't understand is why some long term holders post about their concerns for the poor posties who have been misled by the wicked union bosses and their union rep cronies? That has got to be the biggest load of tosh going. Concerned for the workers? Ha, ha, ha.....
Look, you invested in RMG. The CEO has thrown £528m at you in dividend payments and share buy back during 2022 alone so just be grateful and trust that uncle Simon has your best interests at heart. I'm sure that IDS will be back up to 600p and into the FTSE 100 in no time at all.
Row,row,row your boat......

Mulder, "crash in share price makes you poorer."
Not if you are topping up to average down or buying in after cashing out last autumn?