KE action by Royal Mail workers, planned for Monday, was called off yesterday after progress was made between the Communication Workers Union (CWU) and Royal Mail management.
The CWU said it is committed to reaching an agreement by
13 November in talks over pay and pensions in a joint statement issued with the Royal Mail.
Both parties now have two weeks to finalise an agreement or risk strike action from the 115,000 postal workers who voted to strike in October.
Since it was privatised earlier this month, shares of the Royal Mail have risen 65 per cent to 541.5p per share. The threat of strike action kept a lid on the initial float price.