Workers vote against the privatisation of Royal Mail

An internal vote over the privatisation of Royal Mail has revealed that workers are strongly against the government’s proposals to privatise the postal group. Of the 112,000 workers who voted, 96% rejected the plan, which could mean that the firm will float on the stock exchange next year. Billy Hayes, general secretary of the Communication Workers Union said “This company is flourishing in public ownership… so why privatise this profitable company.” Other union leaders also pointed out that the improved profits were evidence that privatisation is not needed to turn the Royal Mail’s fortunes around. Last month, Royal Mail announced that its’ operating profits had more than doubled to £403m in the year to the end of March. This has largely been aided by Royal Mail’s delivery business, which has grown significantly with the increase in parcel deliveries from online shopping. As part of the vote, workers also voted to boycott delivering competitors’ mail. The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article. Setfords Solicitors are a national full service law firm, with property solicitors in Oakham and across the country.