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THE THREAT OF strike action by lower-paid workers at the Irish Banking Resolution Corporation looks to have been avoided after a deal was struck on redundancy payments by the Labour Relations Commission.
It is understood that the the deal will see payments of €18,000 to staff that had been with the company for 10 years or more.
Staff with between two and ten years of service will receive €15,000, while those with less than 2 years service are in line for a payment of €2,000.
The deal applies to lower paid workers earning less than €120,000 per year in the IBRC, which was formed by a merger of Anglo Irish Bank and Irish Nationwide Building Society.
The average wage of the workers in question is understood to be around €40,000 to €45,000 per year.
The IBOA had threatened industrial action by staff at IBRC as recently as last month as negotiations between the Department of Finance and the Labour Relations Commission stagnated.
The recommendation on severance levels will be issued by the LRC chief Kieran Mulvey today, and will then be voted on by the workers affected. The IBRC committee within the IBOA will give a recommendation on whether to accept the severance or not.
At this stage it is thought that the workers will be urged to accept the plan.
A source close to the process said: “A lot of the members would regard this as a reasonable attempt to bridge the gap between what has been offered to them in the form of statuatory redundancy and what they had previously agreed only 12 months before liquidation.”
A statement from the special liquidators of IBRC confirmed that an agreement had been reached which will see “a sum of money set aside to facilitate termination payments to certain IBRC employees”.
The IBRC was liquidated in a shock move last February as part of the government’s restructuring of the promissory note deal.
As a result, the redundancy terms of many of the employees of the IBRC were affected.
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Some bigger computer companies built in items to keep the mainframes at a certain speed then charged for speeding them up. An engineer would go out and remove a part which was like a restrictor on a car thus allowing the computer go faster. Charging plenty of money for doing so.
Most things have built in obsolescence now.
But car companies do the same thing. Same engine giving different power (or emissions cough VW) outputs depending on the software. Pay a mechanic to re-map the engine to get more power and sometimes more fuel efficiency from the engine.
You really wonder eh
This is why I put clean Ubuntu installations on my machines…
Installed linux mint yesterday on a VM as I normally use Mac and Ubuntu, mint is not a bad OS for anyone jumping across from Windows
I bought a new laptop from Dell recently with a “Killer” Nic. No linux drivers :( WIndows 10 makes me cry. So the laptop is using a wifi dongle until I can find time to work a solution.
Wouldn’t happen if ruth coppinger was at the helm :-o
All these things are easy to find if you have anything about pcs and can usually be fixed easily so that isnt the problem the problem is if yhe wrong person finds it
To be fair.. DELL rarely make this type of mistake
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