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Royal Mail ends two-year dispute with new pay deal
StockMarketWire.com
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Royal Mail said it had reached an agreement with the Communication Workers Union over pay, hours and operational change, ending two years of dispute.
The deal includes a 3.7% pay increase backdated to April 2020 and a one-hour reduction in the working week.
Royal Mail said revenue in the eight months to November was £380 million higher compared to the same period last year.
Keith Williams, interim executive chairman, said: We have a window of opportunity to focus Royal Mail on what our customers want today - an ever growing need for more parcels, whilst providing a sustainable letters service.
This agreement provides a framework to do just that, but the proof will be in the pudding. We have been far too slow to adapt in the past and now need to deliver change much more quickly.
At 1:25pm: (LON:RMG) Royal Mail PLC share price was 0p at 274.6p
Story provided by StockMarketWire.com
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