Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

BonusesLatest NewsPay & benefits

Royal Mail staff to receive £1,074 in bonuses

by dan thomas 17 May 2005
by dan thomas 17 May 2005

Postal workers at the Royal Mail are to each be given bonuses of £1,074 after the mail service announced record annual profits of £537m.

Royal Mail directors are set to receive a total of almost £10m – with Tony McCarthy, director for people and organisational development, reportedly in line for £1.34m. Chief executive Adam Crozier was paid more than £2.5m last year. 

Over the past 12 months the state-owned operator made more than £2m a day in profits, compared with losses of more than £1.5m a day three years ago.


The £537m profit was a 144% rise on the previous year’s £220m. Yet Royal Mail’s Post Office subsidiary continued to make a loss, posting a deficit of £110m.

Since Royal Mail started a turnaround plan three years ago, more than 33,000 jobs have been cut at the organisation, while 2,500 urban Post Offices have closed.


Earlier this year, Personnel Today revealed that Royal Mail has reduced its HR spend by £57m in two years. As part of the overhaul, the HR team has been slashed from 3,700 to 2,400 people, through 1,400 job cuts and 100 new appointments. The HR to employee ratio has improved from 1:75 to 1:130.

Royal Mail’s chairman, Allan Leighton, said: “Postmen and women have achieved a fantastic turnaround. They will now deservedly get a Share in Success payment of £1,074 amounting to £218m of the company’s profit. It’s one of the biggest profit shares with employees in UK corporate history.”

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Communication Workers Union general secretary, Billy Hayes, said: “What we have seen today is a successful publicly-owned service.”

Postwatch, the regulator, criticised the level of bonuses for board executives. “We would like to see a much closer link between bonuses and standards of service,” a spokesman said. “At the moment they are heavily skewed in favour of financial targets.”

Royal Mail
dan thomas

previous post
Union looks to Australia to solve UK’s pensions problem
next post
Education and training is main concern in Queen’s Speech

You may also like

Company director wins £15k after being told to...

4 Jul 2025

Skills shortfall in construction threatens housing target

4 Jul 2025

MPs demand Home Office tightens visas to protect...

4 Jul 2025

It’s all about the Monet: how art transforms...

3 Jul 2025

Stop chasing quick fixes: return to the office...

3 Jul 2025

Asda hails major upgrade in employees’ benefits

3 Jul 2025

100% success for latest large-scale four-day week trial

3 Jul 2025

NHS 10-year Health Plan sets out vision for...

3 Jul 2025

Microsoft to cut 9,000 jobs globally as role...

3 Jul 2025

Decline in workplace deaths: falls from height remain...

3 Jul 2025

  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+