The Communication Workers Union (CWU) which represents 200,000 postal and telecommunication workers announced today that workers in the Post Office’s Admin and Supply Chain returned a 76 % ‘Yes’ vote in favour of strike action.
Read MoreThe Communication Workers Union (CWU) has released a statement to say that Post Office Ltd’s plans to franchise a further 17 crown post offices shows “poor judgement” and should be immediately abandoned.
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InPost has signed an agreement with online delivery experts P4D to provide a flexible delivery option for consumers and businesses.
Read MoreThe Post Office today announces the fifth issue of its Fiveyear Saver – a no risk, fixed-term deposit bond – which guarantees returns over a five year period with the benefit of further growth potential linked to the FTSE 100-Index.
The Fiveyear Saver offers a dual investment system, which is ideal for investors made cautious by the recent stock market jitters. As a result customers who take advantage of this great offer – which is open now and closes on 11 January 2008 – will see their money managed in two ways:
– Half of their deposit earns a very competitive 7.5 per cent gross/AER per annum for the five year fixed term period
– The other half benefits from a 50 per cent return on any increase in the FTSE-100 Index over the five year period. Customers’ original deposits are guaranteed should the FTSE-100 Index fall.
Post Office director of savings and investments Richard Norman said: “Although many investors are seeking to benefit from gains in the stock market, they also want a guarantee that they won’t lose their money. This is why we are pleased to announce the launch of a new five year savings bond – with an even better rate of interest.”
“Post Office Fiveyear Saver is a secure investment which gives a guaranteed return, while still offering the growth potential of the FTSE-100 Index. There is no risk of losing your original deposit and you can invest from just GBP 500.”
Read MoreThe Post Office has written to 4,000 senior managers — a third of the workforce — asking for volunteers for redundancy as part of its drive to reduce losses of GBP 2 million a week.
The cutbacks, part of a shake-up of the Post Office, come on top of 30,000 redundancies announced by Royal Mail two years ago.
Three of Royal Mail’s four subsidiaries make a profit. Royal Mail Letters made GBP 344 million last year, Parcelforce has profits of GBP 5 million a year and overseas business makes GBP 100 million a year.
But they are being dragged down by the Post Office, which had a loss of GBP 111 million last year. It has lost 30 per cent of its business in the past five years because of internet banking and changes in the way benefits are paid.
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