February 1, 2018 / 12:41 PM / 7 months ago

Royal Mail and union reach agreement

Feb 1 (Reuters) - Britain’s Royal Mail and the Communications Workers Union (CWU) said on Thursday they reached an agreement, ending a nearly ten-month long dispute over plans to replace the firm’s defined benefit pension scheme.

Royal Mail reached an agreement over pensions, pay, a shorter working week, culture and operational changes, it said in a statement.

The company added it now expects to deliver adjusted operating profit, before transformation costs, of at least 680 million pounds ($967 million) for 2017-2018. ($1 = 0.7035 pounds) (Reporting By Justin George Varghese in Bengaluru; Editing by Saumyadeb Chakrabarty)

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