The salary of directors at Royal Mail rose by 156 per cent last year, taking their total income to Pounds 2.2 million, it emerged yesterday.
Directors’ pay at the postal group, which reported losses of Pounds 197 million in the year just ended, included bonuses worth Pounds 619,848. In the preceding year, boardroom pay totalled Pounds 873,439 after the company reported an operating loss of Pounds 318 million.
Read MoreRoyal Mail overhauled its board remuneration policy yesterday in a stinging indictment of previous management.
The loss-making mail operator will no longer pay executives their full pension if they retire before the age of 60, “so that no director benefits from any kind of pension fund top-up”.
Read MoreWhile UPS customers differ from industry to industry, they agree on one thing – Brown delivers for them. That’s why they’ve recognized UPS for its outstanding service, quality, leadership and innovation over the past year.
Four industry-leading customers recognized UPS for various achievements, but the overriding theme was the company’s superior performance and dedication to on-time small package delivery.
GATS (Global Alliance of Transportation Systems) has announced its first business agreement to open and operate an airmail hub in co-operation with the Postal Corporation of Jamaica. Kingston, Jamaica, is strategically located to serve the entire Caribbean region, Central America and countries in the northern part of South America. GATS and the Postal Corporation of Jamaica will thus be in a position to provide national postal administrations around the world with an effective and efficient network, as well as advantageous mailing solutions.
Read MorePostbank, the banking arm of German postal group Deutsche Post AG (DPWGn.DE), said on Friday it would close bank counters in 1,200 rural post offices by July 1 to save costs. A spokesman for the bank said the number of Deutsche Post outlets offering retail banking would be cut to 11,500 from 12,700 because 75 percent of clients in those branches had used banking services only once a year on average.
Read MoreAn advisory panel for the posts minister said in a report Friday it would be appropriate to license three companies to provide mail delivery services, that were opened to the private sector in April.
The entry of the three companies will bring the number of firms licensed by the Public Management, Home Affairs, Posts and Telecommunications Ministry for limited mail delivery services to 11.
Read MoreTPG welcomes the decision by the Minister of Economic Affairs, Mr Laurens Jan Brinkhorst, regarding a shortening of the duration of the freeze of postal tariffs.
Following a debate in a parliamentary cross-party group the Minister decided not to enact a decision proposed in November 2002 to freeze postal tariffs in the Netherlands until the end of 2006.
Read MoreCanada’s postal workers voted yesterday in favour of a strike, to be called when the union judges that the time is right. Ninety-two percent of the workers endorsed a strike, with 2,500 more members voting than during a similar vote in 1997.
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