Royal Mail: Will give workers stake in investment

Thursday, 18, May 2006 12:00

Royal Mail has said giving workers a stake in the business is "key" to delivering the government's £1.75 billion investment in the company.

Chairman Allan Leighton said the firm’s 17 per cent profit increase this year showed an “outstanding” financial performance, and the company’s workers would receive £418 bonuses as a result.

Mr Leighton said there was a lot of detail to be worked through on the government’s package, a key part of which would be ensuring it gets “the right incentive scheme in place for our people”.

Chief executive Adam Crozier commented: “Royal Mail faces a challenging future - the need to modernise, securing the future of the Post Office network, increasing the focus on customers and improving service yet further, generating the cash to ensure the pension fund continues to meet its obligations, and all the time bringing our people with us."