UK Post Office Plans £250M Pay Increase
UK Post Office Plans £250M Pay Increase
UK Post Office Plans £250M Pay Increase
News summary

The Post Office has announced a five-year Transformation Plan aiming to double postmasters' annual income by 2030, potentially adding £250 million annually to their remuneration. This plan includes a 30% increase in revenue share for postmasters, with up to £120 million expected by the end of the first year, contingent on government funding. However, the initiative puts around 115 branches and approximately 1,000 head office jobs at risk as the Post Office seeks to address financial stability and move on from the Horizon IT scandal. Chair Nigel Railton emphasized the need to learn from past mistakes while enhancing postmasters' roles in the organization through new panels and councils. Despite these positive changes, the Communication Workers Union has criticized the closures, labeling them as insensitive in light of the Horizon scandal's impact on postmasters. The plan underscores the Post Office's commitment to restoring its legacy of public service while ensuring postmasters are adequately compensated for their contributions.

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