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Royal Mail Union Suspends Strike After Outline Deal on Jobs, Pay

Oct. 30 (Bloomberg) -- Royal Mail Group Plc said the Communication Workers Union agreed to suspend strike plans following an outline agreement on pay and job security beyond the three years previously offered.

The CWU has agreed to “stand down” a 24-hour walkout planned for Nov. 4, London-based Royal Mail said in an e-mailed statement today. The company agreed to extend the validity of a ballot in favor of industrial action while talks continue.

A final deal should be reached by Nov. 13, offering lengthier legal protections for staff, improved pay and a new pensions agreement, Royal Mail said in the joint statement with the union. Other terms will include clarifying the company’s parcels and letters strategy, it said.

Link to Company News:{RMG LN <Equity> CN <GO>}

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net

To contact the editor responsible for this story: Christopher Jasper at cjasper@bloomberg.net

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