This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-25306799

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Royal Mail workers' union calls off Christmas strike Royal Mail workers' union backs a 'landmark' deal
(35 minutes later)
An agreement between the Royal Mail and the Communications Workers Union over pay and pensions has been reached, lifting the threat of a Christmas strike. The Communication Workers' Union (CWU) will recommend to postal staff that they accept a new pay offer that it described as "landmark".
The Communication Workers' Union (CWU) will ballot postal staff recommending they accept the new pay offer. The deal gives postal workers a 3% rise backdated to April this year, another 3% from April next year and 2.8% in 2015-16.
The union called the deal a "landmark". It is worth 9.06% over three years and gives workers a one-off pensionable lump sum of £200 before Christmas,
It gives postal workers a 3% rise backdated to April this year, another 3% from April next year and 2.8% in 2015-16. The agreement means the threat of a Christmas strike is averted.
CWU deputy general secretary, Dave Ward, said: "The agreement breaks new ground in the UK by incorporating extensive legally binding protections for employees alongside a commitment to improve industrial stability.
"This is a good deal for the company and customers as well as for employees, but investors should be clear that this agreement commits them to growth and there will be no tolerance to a race to the bottom on services and jobs."
Moya Greene, the chief executive of Royal Mail, said: "This will provide long term stability and certainty for Royal Mail, our employees and our customers at this pivotal time. Working together we can create a strong foundation for the continued success of our business."
Stability
The union says the deal includes guarantees that the newly privatised Royal Mail will give workers legal protections on their terms and conditions, ensuring the Royal Mail will not outsource, sell or transfer any part of its business until a legal review takes place in 2019.
In addition, the CWU says it sets out improved industrial stability and safeguards pensions, as well as staving off the threat of the company employing new postal workers on inferior terms and conditions.
Another part of the agreement is for the two sides to work to create industrial stability with a re-launch of industrial relations arrangements and the introduction of mediation procedures alongside new governance arrangements.
Union members will vote on the recommendations in January 2014.