News / Free shares for local posties
AROUND 80 Royal Mail employees in Shetland have received a total of £273,000 in free shares as part of the company’s stock market flotation.
The controversial privatisation gives each eligible full-time employee 725 shares, currently worth more than £3,500.
A company spokesman said staff were guaranteed 10 per cent of shares in Royal Mail, the largest free allocation of shares of any major UK privatisation.
“Each of the full-time eligible employees has been given the same number of shares, regardless of their grade, with part-time employees given shares on a pro-rata basis.”
Meanwhile, union members have voted to go on a national 24-hour strike on 4 November over terms and conditions at the privatised company.
Become a member of Shetland News
Shetland News is asking its many readers to consider paying for membership to get additional features and services: -
- Remove non-local ads;
- Bookmark posts to read later;
- Exclusive curated weekly newsletter;
- Hide membership messages;
- Comments open for discussion.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a member of Shetland News by either making a single payment, or setting up a monthly, quarterly or yearly subscription.
Already a member? Sign in to hide this message.
