Member Info for Talk2Much

There's some speculation that it could be linked to the imminent departure of ST. Honestly have no idea if there's any connection, just adding it to the discussion...

Just... well... unbelievable.
Already trading at prices not seen since, erm, a few days ago.
And it's no longer even up 10% from where it was a month ago.
I'm not going to resort to personal attacks, not my style.
I think a movement of 2% in a day on this share comes as no surprise to most of us here, so I don't know why you think it's such a big deal @Goldfinger

@beatrootjuice
Stole this from RM Chat - explains the difference between the original two lump sum options:
The £1500 lump sum came with 2% followed by 6%, whilst the £500 came with 6% followed by 2%.

If you took the 6% this year, your pay goes from 25k to 26.5k plus £500 lump sum =27k paid 23-24
If you take the 2% this year your pay goes to 25.5k plus £1500 lump sum =27k paid 23-24
So it's the same, and then your next pay rise sees you at 27,030 in both instances.

If the lump sum was pensionable then they both work out the same, if not then you're best off taking the £500 to improve your basic pay earlier.

Posts like this one on RM Chat kinda sum up the feelings of many...
"I'll be voting no the cwu feckers are selling us down the river.remove ward ,fury and pec .the document is nearly a carbon copy of the ****e RM put to us .f**k RM and f**k the cwu"

There is also a poll on there currently showing 86% favouring a NO vote...

It's clearly a great deal for the business if that's how the people feel about it. Who'd want to be a CWU rep towing the union line on this one and selling it to your members?

I'd love to say this is a huge win for RM. They have implemented most of the changes that that wanted (worth an extra 3.5% on the original imposed 2% pay deal). They're not back dating anything. They've kept it at 10% over 3 years when inflation is higher than that.
The concern is, the posties are largely viewing this as a collapse by the CWU. The anger on RM Chat ( I know it's a sounding board for the militant) is almost entirely aimed at the union. For me, there's a risk the posties might vote no even when the exec recommends it.

Broch...
"The manager has been moved to a planners role. It comes with a payrise and a potential 15k bonus.
Bet he's gutted?"

Planner roles in RM are the lowest paid managerial jobs in the business. COMs are on around 47k, "Deployment Managers" (planners) on around 40k.
Maximum bonus possible in any role is 12.5% salary based on several targets, so 5k if you perform exceptionally AND the business meets profit, QofS, safety, performance targets. There's potentially a 50% boost to 7.5k, so if he's been moved to a planner role and somehow achieves the maximum possible bonus, he might just make what a COM makes before bonuses. In reality, managers aren't expecting a bonus because the business usually sets a profit threshold which must be met before any bonus becomes payable, and it's unlikely that set the threshold as a negative number.

1st class is a pain for them. I'm sure if there was a single 2 or 3 days from delivery letter service and a much more expensive premium next day service then it would be very pleasing for RM.

Scamp... not sure that I can disagree with anything you've said there. I mean not a thing, and I don't mind an argument! The select committee smacked off self importance from the MPs and yes, we know ST and the rest didn't cover themselves in glory, but this is a PLC with a service obligation that is decimating its profits. The business leaders are trying to make a profit, not run a service.
No matter who is in negotiations (and I'm sure the changes are just a ploy to make the CWU think they are making progress), the business is in the same financial position.
New starters are already on new t&c and the business gets more hours for less money from these people... I'm sure they're distraught at every leaving employee.
Everything the CWU thinks it can stop has either happened already or will happen before they even announce their next move.
RM have won, the CWU should stop dancing because the music has stopped.

Broch, whilst I know for a fact that call rates are frequently below 40% on many walks I feel like that would be a pointless argument to have here. What your point does underline is that the reduction in letters doesn't lead to a significant reduction in cost for delivery. This point helps to demonstrate that as revenue from letters collapses, the cost to the deliver them does not. This is precisely why the business is struggling to make money these days - and for as long as there is a 6 day USO for letters these problems will only get worse as letter volumes continue to decline.

Anger,
Fully agree the Government are largely trying to avoid the issue. It's up to RMG to demonstrate to OFCOM that it isn't financially sustainable. End of year finances, traffic decreases forecast over future years, should help make a very convincing case. Then I believe we need OFCOM to say to the Government that the current circumstances warrant a reduction in the USO and see where it goes from there.

Well, RM are pressing on with their revisions and they may not be quite what the negative thinkers expected. The main reason being that traffic volumes are very low indeed.
Forecast volumes were rebalanced with a significant drop from last year, but many offices are seeing volumes over 20% LOWER than forecast. If that doesn't help sell a reduction in the USO then I don't know what will!

@isleworth
The business said "No compulsory redundancies" because VR was massively oversubscribed. The posties desire for voluntary redundancy is the only reason RMG promised no compulsory redundancies. It wasn't the CWU that made it happen, so they can't call it a win!

RMG to remove xmas agency - it's not xmas, well done
RMG accept new CWU ballot - CWU must have one for further IA, well done
RMG reinstate IR framework - RMG will deploy revisions even if CWU disagree, but at least it'll be "in the framework", well done
RMG will review conduct cases - this is standard procedure since that are always appealed anyway, well done
CWU won't take strike action before 20th January - what, you mean after the two week legal requirement for notice? Exceptionally well done.

How this can be sold as a win by the CWU is beyond me. RMG have conceded nothing, and when the talks are over they'll barely have time to announce another strike before the change ballot lapses.

Well said JB, you beat me to it! That was exactly the analogy I was thinking of!!

Sorry Anger... didn't see you response before I posted me. We are om the same page!

@Rural13

..A/ Look at how you can gradually reduce your bills whilst at the same time looking at other ways to earn more money or....B/ Eat twice as much food and leave the heating on all

Seeing as people costs are the largest part of RM bills, they're trying to reduce that, check.
RM Health, 7 day parcels, later collections from key customers to try to increase income, check.

The strikes have effectively reduced company income and increased costs, so the CWU clearly preferred your option B.

https://commonslibrary.parliament.uk/research-briefings/cdp-2022-0243/

A Westminster Hall debate has been scheduled for 12 January 2023 at 1.30pm on Royal Mail and the future of the universal service obligation. The debate will be opened by Kate Osborne MP.

CWU: " If you can give us 9%, backtrack on any required changes and keep the unsustainable 6 day USO whilst losing a million a day, we'll call off the strikes. "
BOD: "Err, no."
CWU: "Unbelievable. At least we tried. Im going to tell everyone how nasty you are for not giving us everything we want even though the business is hemorrhaging cash. It's not or fault at all."

Forgive me here. This is just a suggestion from the CWU isn't it? No way RMG will agree to it.
Posties are raging at the potential to call off strikes. Backlash on CWU FB page is significant.

I'd say someone capable of improving efficiency, reducing costs and generating more revenue. Oh - but that's what we're trying to do... sadly, strikes aren't helping achieve any of it.