Your Jobs Will Go, My Bonus Will Grow!

As Royal Mail boss Moya Greene looks at axing another 40,000 jobs (on top of the 65,000 that have already gone since 2002), she will be very happy with her £777,611 pay and bonus package while Royal Mail workers will be told to be even more flexible and accept wages that are declining as inflation rises.

According to the Royal Mail results released this week, the public service is 'insolvent' and would be unable to pay workers wages if it were not for the £1.7bn lifeline from the public purse, reports This Is Money. Yet Moya has no problem accepting her massive wage during her 9 months at Royal Mail, while at the same time telling employees that they will NOT be getting the bonus they were expecting.

Some might be tempted to believe that Moya Greene has cooked the books, especially since modernisation costs have been added to the figures for the first time - resulting in the letters and parcels loss. While others might think privatisation would lead to a better service, but the truth remains that competition in the postal market did NOT lead to lower stamp prices for customers. Instead first class stamps have risen 40% since competition was introduced  and selling off Royal Mail will eventually see the end the universal daily delivery.

Royal Mail employees have spent the last ten years being told that modernisation will lead to job security, but for the many thousands who lost their jobs, this promise proved false. Now one in four posties will lose their job and the other 75% of workers will have their wages driven downwards - while sitting at the top of Royal Mail, Moya Greene will be enjoying her bumper wage packet!