Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksInternational Distributions Services Share News (IDS)

Share Price Information for International Distributions Services (IDS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 320.00
Bid: 319.60
Ask: 320.40
Change: -2.20 (-0.68%)
Spread: 0.80 (0.25%)
Open: 323.80
High: 324.80
Low: 318.80
Prev. Close: 322.20
IDS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Ballot on Royal Mail agreement suspended by workers union

Wed, 24th May 2023 14:13

(Alliance News) - A ballot of International Distributions Services PLC's Royal Mail workers on a deal aimed at ending a long-running dispute over pay, jobs and conditions has been suspended by their union.

The Communication Workers Union said it had become clear that the environment it was attempting to deliver the agreement in remained "toxic".

In a message to members, general secretary Dave Ward and deputy general secretary Andy Furey said the company had not stopped "attacks" against union members in the workplace.

They said the proposed agreement, set against the "most brutal dispute in our history, a self-inflicted but very real financial crisis for the company and jointly agreed need for change", would secure the future of the company, jobs, and the service.

They continued: "However, what has become clear is the environment we are attempting to deliver this agreement in remains toxic. Royal Mail Group has not stepped back from their attacks in the workplace. This became more evident when they announced their quality of service results and failed to take any responsibility whatsoever for the disastrous position the company finds itself in.

"Unless Royal Mail Group openly accept that their culture of imposition and the 'our business to run' mantra must go – then the integrity of the negotiators agreement will be irreparably damaged."

The union said it had made it clear to Royal Mail that unless quality of service is restored and "failed revisions" affecting workers were tackled, the business will not succeed.

The union's postal executive said it had decided to suspend the vote on the proposed national agreement until moves were made to restore quality of service and "genuinely review all failed revisions".

A spokesperson for Royal Mail said: "We fully support this deal and hope that CWU members accept it in the forthcoming ballot.

"The need to change is critical so that we can improve our quality of service, deliver for our customers and get back to profitability.

"The sooner we can get a positive ballot result the sooner we can give our people the pay rise that we have agreed with the CWU and provide greater job security."

International Distributions Services shares were 1.5% lower at 197.52 pence each on Wednesday afternoon in London.

By Alan Jones, PA Industrial Correspondent

Press Association: Finance

source: PA

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
22 Apr 2024 12:04

IDS highlights progress as it reiterates opposition to possible bid

(Alliance News) - Royal Mail-owner International Distributions Services PLC on Monday urged UK industry regulator Ofcom to quickly push through changes to mandated postal services as it stood its ground against a possible bid approach.

Read more
22 Apr 2024 11:47

Redwheel calls for regulator to scale back Royal Mail delivery requirements

(Sharecast News) - Royal Mail owner International Distributions Services' third-largest shareholder said the company was "vulnerable to corporate predators" as a result of obligations requiring it to deliver letters six days a week.

Read more
21 Apr 2024 16:47

Sunday newspaper round-up: IDS, Ocado, Foxtons

(Sharecast News) - Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian

Read more
21 Apr 2024 11:51

Redwheel backs Royal Mail owner's rejection of Kretinsky share offer

April 21 (Reuters) - Fund manager Redwheel said in a statement on Sunday that it supported Royal-Mail owner IDS' board decision to unanimously reject a non-binding share bid from EP Group on 11 April.

Read more
18 Apr 2024 09:43

LONDON BROKER RATINGS: HSBC likes Haleon, cuts Flutter to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
17 Apr 2024 18:10

UPDATE: Royal Mail owner IDS shuns "opportunistic" bid from Kretinsky

(Alliance News) - International Distributions Services PLC, the owner of Royal Mail, on Wednesday confirmed it had rejected an "opportunistic" offer from EP Corporate Group AS.

Read more
17 Apr 2024 17:52

Royal Mail owner rebuffs bid from Czech billionaire Kretinsky

Kretinsky's EP Group made non-binding bid for IDS

*

Read more
17 Apr 2024 17:11

Adidas, LVMH steer European shares higher on earnings relief

LVMH climbs as quarterly sales placate industry concerns

*

Read more
17 Apr 2024 16:57

LONDON MARKET CLOSE: FTSE 100 shrugs off UK inflation, hawkish US Fed

(Alliance News) - Stock prices in London closed largely up on Wednesday, despite hotter-than-expected UK inflation data and more hawkish words from the US Federal Reserve.

Read more
17 Apr 2024 16:34

London close: Stocks mixed as bargain hunters pick over FTSE 100

(Sharecast News) - London stocks showed a mixed performance by the close on Wednesday, with the top-flight index in the green as investors hunted for bargains after its four-week low on Tuesday.

Read more
17 Apr 2024 12:05

LONDON MARKET MIDDAY: Stocks rediscover poise after UK inflation data

(Alliance News) - Stock prices in London were higher on Wednesday, shaking off a hotter-than-expected UK consumer price index reading, and a warning from Federal Reserve Chair Jerome Powell on the fight to contain inflation in the US.

Read more
17 Apr 2024 11:59

TOP NEWS: Daniel Kretinsky’s EP Group makes unsuccessful bid for IDS

(Alliance News) - EP Corporate Group AS on Wednesday said International Distributions Services PLC, the owner of Royal Mail, had rejected a bid proposal.

Read more
17 Apr 2024 11:32

Royal Mail-owner rebuffs takeover approach

(Sharecast News) - Shares in International Distribution Services soared on Wednesday, after it emerged that Czech billionaire Daniel Kretinsky had made a takeover approach for the Royal Mail owner.

Read more
3 Apr 2024 16:54

LONDON MARKET CLOSE: FTSE 100 up thanks to US economic data

(Alliance News) - Stock prices in London closed mostly higher on Wednesday, after some data from the US reinforced the interest rate cut trajectory across the Atlantic.

Read more
3 Apr 2024 16:07

London close: Stocks reverse losses to finish slightly higher

(Sharecast News) - London markets saw modest gains by the close on Wednesday, following Wall Street higher in afternoon trading.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.