International Distributi... Share Discussion Threads

[careful] 21/4/2023 16:09

The acceptance of profit sharing kills off all dreams of re-nationalisation.

The CWU members will be watching the results and profit figure closely.
A profit of £400m would result in £80m being shared out between the workforce.

That is worth having, equivalent to the dividend on a substantial shareholding.

This is an innovative ground breaking deal that will set a benchmark for others to follow.
No need for an employees share holding, they will get their cut of the profits.

The word profit will no longer be a dirty word.
This could be a turning point, enlightened capitalism.

[careful] 21/4/2023 15:16

A clever move profit sharing.

As there will be a significant loss this year I assume the union members will pay back 20% of it.
Every little helps.

[casholaa] 21/4/2023 14:55

Can they turn them from being militant lefties to capitalist righties? ...and is it possible to be greedy regardless?

[lefrene] 21/4/2023 13:25

In the case of RM my feeling is that all would be best served by letting it go bust. It can then be re-started on genuine commercial lines. Plainly good profits to be had, but not as the ham strung political piece of window dressing that it has become. Postal charges could be reduced and wages raised, and 95% of the population still get a very good mail service.

[tuftymatt] 21/4/2023 12:44

It's a challenge for sure.

I agree with profit sharing but then I am an investor with the mindset of longer term gains rather than others who can't think like that as they need all they earn each week just to get by.

Such a difficult one in terms of "one size fits all" but let's hope in this case we can see some early stage positive moves that helps with both the companies profit and the SP

[lefrene] 21/4/2023 12:29

Quite agree tuftymatt, align the workforce to wanting to see a good profit, sadly however the masters of the Union will see such an incentive as a threat to their power, and do their best to scupper it.

Decades ago a factory I worked in shared 10% of the profits across the labour force, it worked well until one year for wider economic reasons the profits were nil, the Union stepped in, 'saved' the workers by dumping the profit sharing deal for a 3% raise. Next year profits were excellent but of course the workers got nowt. The Union was very quiet about that!

I tried profit sharing when I built up a company, and sure enough a would be union organiser declared, "If there's profits to share he's making too much money out of us, we want a raise"! I had up to that point been completely open, anyone was welcome to see the books on a week by week basis. I withdrew any element of profit sharing, I realised that the vast majority of workmen exist from week to week with a time horizon of about ten days, and their idea of 'profit' is to get as much overtime as they could.

[tuftymatt] 21/4/2023 11:50

I think putting in the make a profit get a cut of it makes sense.

Yeah let's hope we can move on now, get the ship back on track and see the share price move into the 300's.

Good luck all 👍🏻

[slopsjon2] 21/4/2023 11:49

"In addition to the pay increases, agreement has been reached on a profit share scheme over the life of this agreement. Subject to Royal Mail returning an adjusted operating profit in any financial year up to and including 2024/2025, 20% of adjusted operating profit will be distributed as a one-off payment to employees, paid after publication of the company's audited accounts."

That sort of aligns the workforce to the business, but quite a chunk of profit.

[isis] 21/4/2023 11:45

Blimey - actually looks to generous if anything!
Well if it stops the rot in the share price then it will have to do.

[encarter] 20/4/2023 07:19

https://www.wsws.org/en/articles/2023/04/18/igwt-a18.html

[eastusk] 19/4/2023 00:11

https://www.thisismoney.co.uk/money/markets/article-11982397/Royal-Mail-boss-let-quietly-deal-unions.html?ito=fbmessenger_share_article-top

[casholaa] 18/4/2023 22:55

I couldn't see any reference in there to wags, bottle openers, hobnobs or books of stamps.

[casholaa] 18/4/2023 22:54

I've lifted this from the other forum and do not know how accurate it is. It were posted by Oligarch:

"The last memo that RM issued stated the following;
Pay
• Increased our pay offer, and extended the offer until April
2025
• Offered two options to the CWU:
• Option A: 10% three year pay deal, plus £500*
2% pay rise from April 2022 (already paid),
6% from April 2023 plus a lump sum of £500*,
2% from April 2024.
• Option B: 10% three year pay deal, plus £1,500*:
2% pay rise from April 2022 (already paid),
2% from April 2023 plus a lump sum of £1,500*,
6% from April 2024.
So, that's a 10% deal over three years which isn't exactly groundbreaking and personally I think that the business will renege on the 6% from 2024 when the planned cost savings fail to materialise over the next eleven months and will claim that it's unaffordable.""

[not my real name] 18/4/2023 22:34

From Socialist Worker........

"But union leaders refused to call more action, as bosses blackmailed them with threats that Royal Mail could go into administration."
-----------------------------------------------------------------------------
Or as normal thinking people would put it..........

The Union declined to call more action as the very real prospect of Management being forced to put the Company into administration caused by the completely ridiculous demands of the CWU was explained (using monosyllabic words and a nice picture book which you could colour in using felt tip pens supplied free of charge) to the CWU negotiating team.

NMRN

[isis] 18/4/2023 22:08

The Union does not see themselves as the problem, they and the workers just blame management despite several CEO's.
This is the problem with heavily unionised State industries and why they had to go in the 70's and 80's but they are still at it. They can't or won't get to grips with free enterprise and how to run a profitable business.
Every Postie I've spoken too and the ex ones all come across as Militant if you mention changes need to happen. You can see their faces turning aggressive, frightening really!

[31337 c0d3r] 18/4/2023 21:42

Yes, since it's the seller who purchased the postage, only the seller can open a claim with Evri.

In this situation I would leave negative feedback along the lines "item not received and seller refuses to cooperate". There's a chance the seller will offer to open a case with Evri if you promise to revise your feedback.

[31337 c0d3r] 18/4/2023 20:55

isis - been in this situation many times as a seller.

In your case the seller used an independent courier and tracking confirms delivery, so they've fulfilled their obligations and are 100% in the clear.

This is what eBay Buyer protection is for. If you raise an Item Not Received case on eBay, wait 3 days then you're allowed to escalate for eBay to make a "final" decision. You will lose the case (ha!) You then appeal the case and eBay will, at their discretion (ie. as long as it's not a repeated pattern), issue you with a full refund, with no impact on the seller.

As you've missed the deadline - there's nothing eBay will do about it now.

[isis] 18/4/2023 20:21

Morelike the Socialist Workers are angry - they always are! lol

[isis] 18/4/2023 18:58

Well I suppose it depends on the individual deliverer but if you live in Central/Inner London leaving a Parcel on the Doorstep is not a good idea.
There are people roaming the Streets looking for them unfortunately.

[casholaa] 18/4/2023 18:40

Ohhh you are sooo wrong. I've had RM dump parcels on my doorstep and walk off. Oddly, they'll take a photo of an item half hanging out of the letterbox but not the items dumped on the doorstep. What you need is a camera to film your parcel arriving and being liberated.

[isis] 18/4/2023 17:53

Evri left a parcel outside my door which was taken. I had no idea it was there, they admitted responsibility and said the ebay seller should claim off them. The ebay seller has just been wasting my time saying they're looking into it.
It's not ebay itself but the time wasting meant I couldn't claim off ebay as was too late. A total farce all because Evri chucked it at the Door.
Never have this problem with RMG.

[31337 c0d3r] 18/4/2023 17:29

isis - what happened with Evri/eBay?

[isis] 18/4/2023 10:32

I think Thomson will go after this debacle is over.
imo. Royal Mail are very much my deliverer of choice, just had a Parcel through the door, was updated all the time and confirmation of delivery by email even though signature was not required.
Still haven't got my money back from Evri/Ebay from January - all buckpassing.