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Royal Mail Group Plc (LON:RMG) workers have sealed a pay deal with its owners which would end a two-year dispute on job security, pay and hours.
- The Royal Mail and the Communication Workers Union were fighting over a £1.8 billion reorganization plan, proposed by former CEO Rico Back.
- The company has assured that it would increase workers’ pay by 2.7 per cent from April 2020 and by another 1 per cent from April 2021.
- The new development will now help workers to focus more on parcel deliveries.
- The Communication Workers Union detailed about the deal saying that it includes two -year pay deal starting from April 2020 and will have a combined effect of worth 3.7 percent in the wage hike. Also, the Royal Mail has agreed for a one-hour reduction in the working week.
- Dave Ward, the general secretary of Communication Workers Union, termed the agreement landmark, stating that members standing in solidarity even at this difficult time can result into a beneficial arrangement for all, customers, company and the workers.
- For the company, reaching an agreement with the workers means that it can go ahead with the planned changes and can implement new technology and automation apart from 24X7 operations.
- On 23 December 2020, the stocks of the company traded higher by 1.22% from its previous closing, hovering at around GBX 330.70 at 15:17 PM GMT+1.
