Royal Mail Agrees to 9 Percent Staff Pay Rise Over Three Years

royalmailLONDON — Britain’s newly privatised Royal Mail said on Monday it had agreed with union members to a 9.06 percent staff pay rise over the next three years.

Royal Mail and the Communication Workers Union (CWU), which represents the majority of the postal firm’s staff, said last week an agreement had been reached in principle on pay, pensions and working conditions, averting the risk of a strike taking place over the busy Christmas period.

The union rejected an 8.6 percent pay increase over three years and a lump sum payment of 300 pounds in July.

The newly agreed pay hike includes a 3.0 percent pay rise in 2013/14 backdated to April 2013, the same rise in 2014/15, and a 2.8 percent rise subject to inflation in 2015/16.

Read more: Royal Mail Agrees to 9 Percent Staff Pay Rise Over Three Years – NYTimes.com.