Unprecedented scheme. “This will be the largest employee shares scheme of any privatization for 25 years in terms of the number of workers who will benefit” David Cable pointed out. The percentage of shares given to employees is also going to be higher than at British Telecom, British Gas or even British Airways. This new commitment will be included in the Postal Services Bill, which will be introduced to Parliament within weeks. However, the government has not yet decided whether the shares will be free or cheap. The Secretary reminded the need to privatize Royal Mail, which suffered from falling mail volumes and a dire pension position.
ent will be included in the Postal Services Bill, which will be introduced to Parliament within weeks. However, the government has not yet decided whether the shares will be free or cheap. The Secretary reminded the need to privatize Royal Mail, which suffered from falling mail volumes and a dire pension position.
“Condescending” offer. Some said this was a gift to the trade unions which, last year, forced the government to back down on the partial privatization of Royal Mail. However, the u
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