Royal Mail’s profit growth triggers strike talk

Thursday, 21 May 2009

Despite a decline in postal volume, Royal Mail managed to nearly double its annual profit, to £321 million for the year to March. But not everyone cheered the good news. The Communication Workers Union, for one, began preparing a strike ballot of workers in London, with voting in other parts of the country possible, because it believes the profit growth is proof that Royal Mail does not need to continue with its cost-cutting plans, which could result in redundancies. The union and other opponents of the government’s plans to sell a stake of Royal Mail to a private firm also cite the solid financial performance as proof that partial privatisation is unnecessary.

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