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 supporter of Shetland News
Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.
Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.
Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has over 600 supporters who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.
Your contribution will ensure Shetland News can: -
- Bring you the headlines as they happen;
- Stay editorially independent;
- Give a voice to the community;
- Grow site traffic further;
- Research and publish more in-depth news, including more Shetland Lives features.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.
Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.