Socialist Worker

Top Royal Mail bosses grab £3.7 million in pay and perks

Issue No. 2365

Royal Mail boss Moya Greene has handed back a £120,000 housing perk.

She was given the money to help her buy a home as part of a lavish £1.5 million pay, expenses and bonuses package between 2012 and 2013. This is 72 times the average postal worker’s wage.

The perk came to light in Royal Mail’s annual report. In what even the company report admitted was an “exceptional” move, Greene was given £250,000 towards a home she was buying.

Embarassed by the news, the government made her give it back.

The cash—worth £120,000 after tax—was agreed last October and was not part of her contract when she joined in 2010.

On top of her £498,000 salary, Greene also pocketed a £399,000 annual bonus, £200,000 in pension contributions and £127,000 for extras such as medical insurance, financial advice. She also got flights to her home in Canada.

With the £250,000 housing payment, her package was worth nearly £1.5 million—a rise of 33 percent. 

Postal workers got a 3.5 percent pay rise.

Greene could also get a near £1 million bonus next March—half of which is already guaranteed. She was among 12 Royal Mail executives who shared £3.7 million in pay and perks.

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Tue 6 Aug 2013, 16:22 BST
Issue No. 2365
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