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Royal Mail’s largest union to resume vote on deal with postal company on June 22
Home > Top Stories > Royal Mail’s largest union to resume vote on deal with postal company on June 22
Global Banking and Finance Review
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(Reuters) – The largest union of UK’s Royal Mail will resume voting on an agreement reached with the British postal firm on June 22, after updating its terms to focus on restoring the quality of services and increasing the one-off lump sum payout to employees.
(Reuters) – The largest union of UK’s Royal Mail will resume voting on an agreement reached with the British postal firm on June 22, after updating its terms to focus on restoring the quality of services and increasing the one-off lump sum payout to employees.
The Communication Workers Union (CWU) put out a joint agreement with Royal Mail late Friday, outlining a series of terms focused on meeting universal service obligations, including setting up a Joint National Quality of Service Steering Group, with members from both parties – the union and the company – to deploy local action plans.
Last month, CWU had suspended voting on a deal reached in April which included a 10% salary increase and a one-off lump sum payment of 500 pounds ($641.45), charging Royal Mail of not abiding by some of the earlier agreed-upon conditions.
CWU suspended voting on the agreement after the postal firm failed to meet delivery targets for the year ended March, 2023.
Royal Mail will also pay employees an additional one-off, lump sum of about 900 pounds from the money that has been held separate to their pension plan, CWU said on Friday.
“This has been a really bitter and long dispute. We believe the agreement represents our best way forward for all of our members and the future of the company,” CWU General Secretary Dave Ward said on Friday, recommending that members vote in favour of the agreement.
A Royal Mail spokesperson said the company welcomed the news, without divulging further details.
($1 = 0.7795 pounds)
(Reporting by Eva Mathews in Bengaluru; Editing by Rashmi Aich)
A union is an organization of workers formed to protect and advance their rights and interests, often through collective bargaining with employers.
Compensation refers to the payment or benefits that employees receive in exchange for their work, including salary, bonuses, and other perks.
Universal service obligations are requirements that ensure essential services are provided to all individuals, regardless of their location or circumstances.
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