TIDMRMG
RNS Number : 4797V
Royal Mail PLC
10 August 2022
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: RMG
ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
10 August 2022
NOTICE OF INDUSTRIAL ACTION RECEIVED FROM THE COMMUNICATION
WORKERS UNION (CWU)
Royal Mail has received notification from the CWU that it
intends to call upon its members to take strike action for 24 hours
on the following days:
-- 26 and 31 August 2022 for shifts beginning at or after 04:00 hours
-- 8 and 9 September 2022 for shifts beginning at or after 04:00 hours
If the announced strike action takes place, it is expected that
Royal Mail in the UK would be materially loss making in
FY2022-23.
This decision by the CWU is an abdication of responsibility for
the long-term job security of its members. In more than three
months of talks, CWU has failed to engage meaningfully on the
business changes required. The negative commercial impact of any
strike action will only make pay rises less affordable and could
put jobs at risk. The CWU has a responsibility to recognise the
reality of the situation Royal Mail faces as a business, and to
engage urgently on the changes required.
Royal Mail remains ready to talk with the CWU to try and avert
damaging industrial action and prevent significant inconvenience
for customers. But any talks must be about both change and pay.
Royal Mail has contingency plans in place and will be working
hard to minimise disruption and restore normal service as soon as
possible.
Following the conclusion of negotiations with the CWU, including
completing our mutually agreed Dispute Resolution Processes, Royal
Mail announced it would award CWU grade colleagues in the UK an
unconditional 2% pay increase, backdated to 1 April 2022.
A further 3.5% increase is available, subject to agreeing on a
series of changes and including a new 'above and beyond' bonus.
The CWU rejected this offer, worth up to 5.5%, which would add
around GBP230 million to Royal Mail annual people costs at a time
when the business is already loss making - in the Q1 trading update
published on 20 July, Royal Mail announced it was losing a million
pounds a day and the proposed pay deal adds more than half a
million pounds a day to that figure. This can only be paid for with
meaningful business change.
The CWU has balloted its members on pay, which returned a
majority in favour of industrial action.
The CWU announced a second ballot on change on 27 July.
Enquiries:
Investor Relations
John Crosse
Email: investorrelations@royalmail.com
Royal Mail investor relations line: 020 7449 8183
Media Relations
Jenny Hall
Phone: 07776 993 036
Email: jenny.hall@royalmail.com
Mark Mann
Phone: 07483 144 684
Email: mark.mann1@royalmail.com
Royal Mail press office: press.office@royalmail.com
Company Secretary
Mark Amsden
Email: cosec@royalmail.com
FORWARD-LOOKING STATEMENTS
This document contains certain forward-looking statements
concerning the Group's business, financial condition, results of
operations and certain Group's plans, objectives, assumptions,
projections, expectations or beliefs with respect to these items.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would',
'should', 'expects', 'believes', 'intends', 'plans', 'potential',
'targets', 'goal', 'forecasts' or 'estimates' or similar
expressions or negatives thereof.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the Group's actual
financial condition, performance and results to differ materially
from the plans, goals, objectives and expectations set out in the
forward-looking statements included in this document.
All written or verbal forward-looking statements, made in this
document or made subsequently, which are attributable to the Group
or any persons acting on its behalf are expressly qualified in
their entirety by the factors referred to above. Accordingly,
readers are cautioned not to place undue reliance on
forward-looking statements. No assurance can be given that the
forward-looking statements in this document will be realised;
actual events or results may differ materially as a result of risks
and uncertainties facing the Group. Subject to compliance with
applicable law and regulation, the Group does not intend to update
the forward-looking statements in this document to reflect events
or circumstances after the date of this document, and does not
undertake any obligation to do so.
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