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Royal Mail and union negotiators have reached an agreement which could signal the end of a long-running pay dispute.

The postal company and the Communication Workers Union have reached an "in principle" agreement over pay and employment terms.

The CWU's executive will meet next week to consider the deal, which if accepted, will then be voted on by union members.

For the past year there has been a row over workers' pay, jobs and conditions.

Details of the agreement are expected to be released next week.

The joint statement said: "After almost a year of talks, Royal Mail and the Communication Workers' Union (CWU) are pleased to announce they have reached a negotiators' agreement in principle.

"The proposed agreement will now be considered by the executive of the union before being voted on by the union's membership.

CWU general secretary Dave Ward and deputy general secretary Andy Furey said: "On the basis that the negotiators' agreement is endorsed by the postal executive, we will put in place a full communications plan to engage members.

"Thank you for your support and patience. It has got us to this point."

Royal Mail workers staged a series of walkouts last year, including in the lead up to Christmas.

Earlier this month, talks between the unions and the postal service collapsed and the CWU pulled back from announcing fresh strikes.

At the time, Mr Ward said the union's leaders did not believe more strikes were the right thing to do but there might come a time when more industrial action is called.

Around 115,000 CWU members working for Royal Mail have been in dispute over pay since the spring of 2022, when workers were offered a 5.5% pay rise,

The CWU said that in real terms, the offer was equivalent to a 2% increase, with workers squeezed by inflation and the cost of living crisis.

The union also objected to proposed changes to working conditions, including compulsory Sunday working.

Earlier this month, Royal Mail said that a return to industrial action could result in the postal service going into administration.

It said the strikes have cost the company £200m in lost business and in covering striking staff.

Royal Mail had previously offered a one-off payment plus a pay deal it says is worth 10% over three years.