Reginald 'Reggie' Perrin hates his cozy, well-paid but boring routine job as in Groomtech's department head of disposable razors. This time, crazy, power-hungry CEO Chris orders Reggie and his over-eager, half-wit sycophant assistants Anthony and Steve to come up with a novel use for pumice. Meanwhile, Reggie's wife Nicola's feminist discussion group crowds him out of his own living room.

Reggie has another ghastly, dull day at the office. Chris orders him to be more conventional, from small talk to carrying his empty briefcase. The latest shaving ideas are typically uninspired. Reggie's violent visions of eliminating people he knows now extend to his mother, a nagging champion presently obsessed with planning his dad's funeral.

Still dissatisfied with his lot, Reggie considers that perhaps he would make a good teacher and goes to Nicola's school to talk about his work. This is surprisingly well-received and so he invites a school trip to Groomtech. This, however, does not go according to plan.

Reggie's morbid hatred now extends even to his wedding witness, Monty. At work, he seizes Chris's latest obsession, globalization, to organise a business trip to Helsinki with attractive colleague Jasmine. Having just has a bad row with his wife, he plans meaningless adultery, but once that appears a real option gets cold feet.

Reggie hoped riding a cool bike would relieve his anger about British Rail and his nonexistent sex life (even now the spousal agendas don't clash, Nicola's period does), and bragged in advance, but that proves painful once more. Meanwhile, Chris needs to learn about the company and delivers daunting promises to the board after a year of (mis)management.

Reggie hopes to have solved his commuting nightmare: a bicycle. His haughty claim to leave his fellow passengers forever is dismally retracted after aching all over where he didn't even realising to have muscles. At work, Chris's latest daft idea requires a speaker, and Reggie, the only one on staff showing no interest at all, is designated.