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Royal Mail workers' strike cancelled Royal Mail workers' strike cancelled
(about 1 hour later)
A Royal Mail workers' strike planned for Monday has been called off after progress was made in talks over pay and pensions.A Royal Mail workers' strike planned for Monday has been called off after progress was made in talks over pay and pensions.
The Royal Mail and the Communication Workers Union together said they were committed to finalising an agreement by 13 November. The Royal Mail and the Communication Workers Union (CWU) said they were committed to "finalising an agreement" by 13 November.
The planned action would have been the first national strike at Royal Mail in almost four years. The planned industrial action would have been the first national strike at Royal Mail in almost four years.
The Royal Mail was privatised earlier this month.The Royal Mail was privatised earlier this month.
Staff were given free shares in the company in an attempt to improve labour relations, with staff not allowed to sell their shares for at least three years. Royal Mail shares are trading well above the 330-pence sale price they debuted at earlier this month. Staff were given free shares in the company in an attempt to improve labour relations, with staff not allowed to sell their shares for at least three years.
The agreement between the union and the postal service will include legal protections for employees "that extend beyond the current three-year offer", an improved pay offer and a separate pensions agreement, they said. Royal Mail shares are trading well above the 330p sale price they launched at earlier this month.
Before the strike, the union said it wanted to forge a long-term, legally binding agreement that protected postal workers' job security, pay and pensions, to avoid what it said could become a "race to the bottom" in employment terms after the privatisation. An offer made by Royal Mail management in the summer also included an 8.6% pay rise over three years.
But CWU members voted for strike action earlier in October after unions leaders called the deal "misleading and unacceptable", and demanded a longer-term agreement to protect postal workers' job security, pay and pensions.
The original ballot involved 115,000 postal workers in Royal Mail and Parcelforce, but not the Post Office, which is a separate business.The original ballot involved 115,000 postal workers in Royal Mail and Parcelforce, but not the Post Office, which is a separate business.
According to a joint statement issued by Royal Mail and the CWU, a new agreement will include an improved pay offer and a separate agreement for pensions.
Both parties said they would "ensure all our efforts are focused on reaching an agreement" by 13 November.