Oct 15, 2018

Royal Mail staff claim their shares were sabotaged

Hundreds of Royal Mail staff have complained that they have been short-changed as a result of a dramatic fall in the company's share price. Since the announcement on 1 October the shares have fallen by 28%. However, Royal Mail said it had no choice but to tell the City as soon as it realised profits would be lower. Postal staff have waited five years to sell the free shares they were given at the time of privatisation. The shares have fallen by 45% since they peaked at 632p in May this year, with some staff seeing the value of their holdings slipping by more than £2,500. Most brokers have Royal Mail shares down as a "Sell" - in other words they expect the shares to fall further.

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