The Communication Workers Union (CWU) said it was an “excellent agreement” for postal workers, customers and the company. The settlement includes a two-year pay deal backdated to April, worth 3.7 percent, plus a one-hour reduction in the working week, said the union.
There will be no compulsory redundancies, it said.
CWU general secretary Dave Ward said: “This is a landmark agreement.”
Royal Mail’s interim executive chairman Keith Williams said: “We now need to deliver change much more quickly.”