News

The CWU (Communication Workers Union) protested on Paternoster Square outside the London Stock Exchange from 7 am to 9 am today to mark the unofficial floatation of Royal Mail.



The CWU believes the taxpayer is getting a raw deal with the float and that there is no reason to privatise a successful company.

Protestors dressed as David Cameron, George Osborne and Vince Cable wore robber uniforms complete with swag bags, placards and banners reading “the Great Royal Mail Robbery.”



Billy Hayes, CWU General Secretary, said: “There is still no reason to privatise this great British company which is successful in public ownership.



"The public were already opposed to this sale as consumers - now everyone's realising it's a terrible idea for the public as taxpayers too."



Royal Mail was officially floated on the stock market at 8 am after the price and size of the privatisation was announced at 7 am. The shares are listed officially next Tuesday, but City institutions began conditional dealings on Friday.



Philip Jennings, UNI Global Union General Secretary said: “Privitisation for privisation’s sake benefits no one, and selling Royal Mail on the cheap is a major mistake.



“UNI Global Union stands in solidarity with our colleagues at CWU and with all Royal Mail workers during this difficult time.”



96% of postal workers voted against privatisation in June 2013 in a consultative ballot on a 74 % turnout. Additionally, a Sunday Times poll in September concluded that 70 % of the public are opposed to privatisation of Royal Mail.



CWU is holding a strike ballot on the issues of pay, job security and terms and conditions which are made more urgent by the privatisation of the company. The ballot closes on 16 October with the result the same day.