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WORKERS AT KBC Bank Ireland are concerned about their jobs ahead of an announcement about the future of the firm’s operations in Ireland.
The results of a strategic review of KBC Group’s Irish activities will be announced this coming Thursday as it reveals its quarter 4 and full financial results for last year.
The outcome of the review is set to decide the future of the Belgian bank’s Irish operations.
KBC Ireland faces tough challenges from its much bigger rivals – Bank of Ireland and AIB – as well as trouble because of Ireland’s constricted property market, among other things.
Depending on the results of the review, the KBC Group has indicated that there are three possible outcomes:
It’s the third option that has the more than 1,000 employees of the bank in Ireland worried.
General secretary for the Financial Services Union Larry Broderick wrote to the chair of the KBC Group on 27 January laying out an argument for why the bank should keep its Irish operations.
He also wrote about the anxiety being felt by members of the FSU who work at KBC Ireland:
As you can imagine the speculation of recent weeks regarding the future of KBC Ireland has weighed heavily on Financial Services Union members in KBC Ireland, as they consider the impact various outcomes will have on their careers and on their families.
The FSU has no negotiating rights with regards to KBC staff members.
A spokesperson told TheJournal.ie that there was “very real concern” among staff ahead of Thursday’s announcement.
“Over recent weeks we’ve responded to queries from both union members and staff who aren’t members of the union,” the spokesperson said.
“They are concerned about job security, terms and conditions in the event of a merger and their rights in a redundancy situation.
They are really the core concerns that any worker has when faced with an uncertain future.
A spokesperson for the bank told TheJournal.ie that the bank’s top priority had been to become profitable by 2016 onwards.
“The group has always stated that the first priority for Ireland is to become profitable from 2016 onwards (already achieved in 2015),” the spokesperson said.
As of then, all available options will be considered.
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Company sets up Euro HQ in Dublin. People moan and make stupid comments….. I don’t get it.
It’s early. They’re feeling grumpy and in need of some attention is all. Poor lads. :(
Because some people don’t want any good news. They just want to be able to moan all the time.
You guys are channelling Bertie Ahern today.
Really fantastic company. I’m glad they’re here. Cheer up, you miserable wraiths.
I used Airbnb to book a house in LA, great service no complaints. Good news for Dublin.
Any positive news is good, we’re busted.
has hospitality in its DNA” and is known for its warm welcome.” Sorry where are you talking about
I don’t know what bad experiences you have had in Dublin so for that I am sorry. I do think Irish people are very nice and welcoming. I’ve been here for 7 years now.
I was born here, my parents were born here and I still get called *insert African country* everyday. I would say Dubliners are polite but not particularly welcoming.
Maybe you’re a bit of a tosser?
You get called African country everyday? Everyday?? That’s a bit odd. Never heard that one before.
Maybe I am.
Yes Matt well done, congrats.
Ah don’t be so hard on yourself. I’m sure your lovely.
Congrats for what?? Im lost. That is very odd!!
Just for being you
Im guessing you bring in on yourself. Goodluck.
Bloody African countries, coming over here…
13years here loving it more every day, well nearly every day.
Wouldn’t never happen without low tax.
Double negative makes a sentence positive…
That is isnt nice.
Holland has a cheaper tax rate than Ireland.
@matt- do you mean effective tax rate? Their corpo rate is 25%.
Nominally the Dutch have a lower rate.
Only Ireland can sprinkle that accountancy fairydust to make the effective rate 0%
They have a lower CT rate.
Clue me in here, our ct is 12.5% and theirs is listed as 25%.
AirBnb will only have to pay tax on money earned IN Ireland. No tax on money earned from other European countries. Hey presto effective rate 2% (or less). What a scam.
This is of course good news. But how come we never hear about Irish companies starting up ??? Isn’t it something to be more proud of to think that there also Irish people out there doing it rather than hearing about already established foreign companies coming here for the tidy tax regime ??
That’s true, I would also like to hear more about Irish companies. The problem is most start-ups tend to be quite small and a lot don’t last very long. A big multinational can be more stable and can bring a large amount of jobs which means more media interest.
Paddy, not sure why the Journal fails to comment on Irish start ups but heres a link for reports on Irish Tech Startups – http://www.siliconrepublic.com/start-ups/
its only Tech companies mind you, but its something
“this vibrant, historic city as our European home”.
So they set up in Paris then……………..
We speak english and all have a leaving cert.
There can be no other reason.
The NSA obviously wants to keep all it’s businesses in the one location, google, Microsoft, intel, ebay, cell phone, internet, paypal etc…………
When its time to relocate the perpetually negative unfunny journal troll department im sure you’ll be happy with your new home
stop trolling snoochy
Theyll create probably 250 jobs of which 10 will go to irish people as the rest will require dutch/french/arabic/russian , IT companies coming here should not get headlines about job creation when most of the jobs they create cant be filled by irish people
News just in: Irish people capable of speaking foreign languages shocker!
Are these foreign workers being flown home every night or will they be living in and paying tax in Ireland. So whose fault is it that Irish people can mostly just speak English ?
Ireland has over 80,000 non Irish people on the dole. Speaking many languages. If some of these can get a job with this company it is one less on the dole one more paying tax. Maybe you should learn a language
Matt is right. It’s mystifying how few long term unemployed have tried to learn another language.
Cost?
Great news! Nice one, Airbnb.
We shall all move to jeopardy its the only place to find a job.
If I open my HQ in Dublin can I get my tax reduced to 2% too?
have your say