Sinn Féin MLA Cathal Boylan has said that not only was Royal Mail sold off too cheaply but also that workers are now being made redundant to make even bigger profits for shareholders.
Former Royal Mail employee Mr Boylan said:
“The Royal Mail was set up in order to provide a first-class and secure postal service to everyone yet today it is under threat of being cannibalised to make big profits for a few.
“The decision to sell off the service at a cheap share price was nothing more than an opportunity for speculators and high financiers to make a quick killing.
“The privatisation of Royal Mail will lead to more redundancies and the closure of non-profitable parts of the service as we see the rationale changed from service provision to improving share profits.
“There are many communities, especially in rural areas, who fear the loss of local post offices which aren’t making large profits.
“It is now important that Royal Mail move to end any speculation of further reduction of services and staff and reassure small rural communities that they will retain post offices.”