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Royal Mail and Communication Workers Union 'reach deal' | Royal Mail and Communication Workers Union 'reach deal' |
(about 1 hour later) | |
A proposed agreement has been reached between the Communication Workers Union and Royal Mail on pay, pensions and other issues. | A proposed agreement has been reached between the Communication Workers Union and Royal Mail on pay, pensions and other issues. |
The deal lifts the threat of industrial action over Christmas, Royal Mail said. | |
A joint statement issued in October, when the union called off a strike, said an agreement would include an improved pay and pensions deal. | |
Royal Mail was privatised earlier this year and employees were given shares in the company. | Royal Mail was privatised earlier this year and employees were given shares in the company. |
The privatisation was opposed by the union and the share offer was seen as an attempt to smooth labour relations. | |
Ballot 'remains valid' | |
The CWU said in a statement the agreement would now be considered by its executive and then its members. | |
"Details of the proposed agreement will be made available following the conclusion of the meeting of the union's postal executive," it added. | |
Both sides agreed that a recent ballot for industrial action "remained valid". | |
But Royal Mail added in a statement to the stock market: "The CWU has confirmed that there will be no disruption through industrial action during the ratification process of the proposed agreement, including the whole of the Christmas trading period. | |
"An announcement on the content of the proposed agreement will be made when it is ratified by the union's executive committee. | |
"The proposed agreement is also subject to approval by the Royal Mail plc board." | |
The company said it had come to an agreement with the union in principle over pay, legal protections, industrial stability and pensions. |
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