Tag: UK

UK DHL Express managers' unrest

Posted by | Jun 22, 2006 | |

Managers at DHL Express have claimed that the company is losing up to (pounds sterling) 2m a month.

Sources blame rising costs and customer restlessness and say several large, long-standing accounts have been lost.

There has been little evidence of the proposed integration between the domestic and DHL International operations going ahead, they say.

The comments are made this week in response to Motor Transport’s story last week about a pay and bonus freeze for managers.

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Post Office to install 1,500 free ATMs in branches

Posted by | Jun 22, 2006 | |

The Post Office today announced plans to install an extra 500 free-to-use automated teller machines (ATMs) in its branches – on top of the 1,000 it had already committed to roll out within the next five years.

Alan Cook, Managing Director of Post Office Ltd, said the expansion in free-to-use ATMs underlined the Post Office’s vision to be a universal provider of free cash access for its customers.

The Post Office, under an agreement with its financial services partner, Bank of Ireland, announced last summer that 1,000 free-to-use ATMs would be installed in the network. The Post Office also confirmed its intention to withdraw from its involvement with third party fee-charging ATM suppliers.

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UK Royal Mail acts to honour pensions Trustees agree deal to pump pounds 750m a year for 17 years into deficit.

Posted by | Jun 21, 2006 | |

Royal Mail has struck a deal to clear its pounds 5.6bn pension deficit in what is the largest settlement so far over retirement black holes.

Under terms agreed with pension fund trustees, Royal Mail will pay up to pounds 750m annually for 17 years into the 450,000-member scheme.

The move comes as Royal Mail’s management is battling a host of problems, from pounds 2m-a-week losses at its rural Post Office network to increased competition in letter delivery from private companies.

To close its huge pension fund gap, the publicly owned group will have to dramatically lift annual contributions.

They will go up from pounds 480m last year to about pounds 750m this year and in future years.

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UK Royal Mail looks to clear GBP5.6bn pension deficit

Posted by | Jun 21, 2006 | |

Royal Mail is ramping up payments into its pension scheme in a bid to fill its GBP5.6bn pension deficit black hole, according to reports. An agreement with its pension trustees sees Royal Mail up its payments into its pension scheme to GBP750m from GBP480m, paid annually for the next 17 years, reported the Daily Telegraph. It is not clear how the Royal Mail will fund it, with operating profits at GBP355m last year. Cost-cutting measures have been suggested as a likely strategy to help fund the pension deficit.

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