Tag Archives: Companies

Simon Thompson is set for a pay-off of up to £700,000 after quitting as the boss of Royal Mail in the wake of a tempestuous battle with union leaders. Mr Thompson will formally step down from the helm of Royal Mail in autumn, leaving the UK postal monopoly on the …

Press play to listen to this article LONDON — As Liz Truss gets down to work as Britain’s new prime minister, she faces an immediate problem. Half the British workforce appears to be going on strike. Across the country, rail workers, barristers, dockhands, bus drivers, garbage collectors, Amazon employees, and …

Royal Mail has apologised after soaring staff absences caused the postal service to miss targets for millions of letter deliveries. The formerly state-owned company said just 85.6pc of first class post was delivered on time during the last week of January, below its statutory target of 93pc.  Delivery times for …

Mr Thompson, who also previously worked for Apple and is on Coca-Cola’s digital advisory board, insisted that the cuts were a continuation of already agreed proposals with Unite and the Communication Workers Union to remove 1.2m working hours from the business. “Ourselves and our unions are totally sticking with our …

A spokesman said: “We are providing targeted support to the local offices affected by these issues and we apologise to customers for any inconvenience they may have experienced. “Our postmen and women are continuing to work incredibly hard, as they have done throughout the pandemic, and we are thankful for …

Vesa, for its part, has made some platitudes about how Sainsbury’s “strong brand” and well-located stores in the more prosperous south-east make it “an attractive long-term investment opportunity”. But it seems unlikely that the tycoon is happy to remain a passive shareholder, and he continues to play his cards close …

The Government has written down the value of the Post Office to zero after the state-owned chain was hit by the postmasters scandal. In its annual report, the Department for Business said the value of its holding in Post Office Ltd had plummeted from £145m to “nil” in the year …

Boss Simon Thompson insists the pandemic has triggered “a structural shift”, turbocharging demand for parcels and accelerating the long-term decline in letters. Despite a mini-revival in recent months, letter deliveries are a fifth lower than before coronavirus erupted. Yet this is Royal Mail. For a company that has been bringing …

The only thing Back’s £1.8bn “transformation plan” succeeded in transforming was relations with the unions, and not for the better. He infuriated the Communication Workers Union, first by trying to force through changes to pay and working conditions while commuting from his luxury Swiss apartment, then refusing to jet into Britain …

Boris Johnson and Rishi Sunak will hold crunch talks over the future of Britain’s railways next week after delaying publication of the biggest review of the train network since privatisation. Plans to publish a rail blueprint before May’s local elections have been shelved with the Treasury at loggerheads with the …