Royal Mail are losing “more than £1 million a day” over the continued strikes and postal workers have been warned that “further strike action” threatens their “job security.”
Communication Workers Union (CWU) has been warned that the company are in a crucial few days and that if a deal is not reached then Royal Mail faces the threat of administration.
Should Royal Mail go into administration this will place a huge question mark over who would buy the company given that strike action has been going on for almost a year.
A CWU spokesman said, “It is clear Royal Mail Group is in a serious financial situation.
“This is as a direct result of mismanagement and recklessness at the most senior level. Those individuals who have led the company into this crisis have no right to lead us out of it.
“There is no positive future for Royal Mail without workforce support. Talks must succeed this week or the CWU will call further strike action.”
More than 115,000 postal workers have been striking over pay, conditions and job security and the CWU has given Royal Mail a deadline of Friday to improve their offer or face further strike action.
A Royal Mail spokesperson said, “After 11 months of talks, making numerous improvements to our offer based on CWU feedback, and mediated talks by Acas and Sir Brendan Barber, we are deeply concerned that we have yet to reach an agreement.
“We remain committed to getting the right deal, which secures the future of Royal Mail and its workforce.
“We have been clear throughout the dispute that significant transformation of our network and working practices is essential for the business to survive.
“It is not sustainable for the business to be losing more than £1 million a day. Change cannot continue to be delayed.
“If CWU persists with further strike action, this would only serve to threaten the job security of our postmen and women and make our pay offer unaffordable.”