Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
THE IBOA UNION, which represents employees of the Irish Banking Resolution Corporation (IBRC), is to meet with the company’s special liquidators on Monday.
The meeting comes after IBRC workers threatened industrial action if necessary to secure “just severance” as part of a “campaign for fairness and respect” for staff. They voted for this in an IBOA (the finance union) ballot last Friday.
The special liquidators to the IBRC, Kieran Wallace and Eamonn Richardson of KPMG, have said that a meeting will take place with the IBOA on Monday 11 March.
According to Wallace and Richardson:
This date is the earliest available following the unavoidable postponement of the previously arranged meeting from yesterday morning (Wednesday), and the IBOA’s non-availability [on] Thursday and Friday.
According to an email seen by TheJournal.ie, IBRC staff were told that an agreed redundancy package was signed off in September 2011 by the bank and the Government. It would have entitled the staff to four weeks’ base pay per year of service, inclusive of statutory redundancy entitlement, to apply to redundancies made by the bank over the following five years and subject to annual review and no unforeseen budgetary deterioration.
It was also agreed that if compulsory redundancies became necessary, it was proposed these terms would apply to any such redundancies. Some departments were excluded from the above, but staff believed that the terms of the voluntary redundancy scheme would apply to them should compulsory redundancies be necessary.
IBRC workers said earlier this week that they will take industrial action if necessary to secure ‘just severance’ for them, as the liquidation of the bank on 7 February affected this 2011 agreement. They are instead entitled to statutory redundancy.
The staff are now asking for the commitments the Government made to them to be honoured, and the IBOA said on Monday that “it was not necessary to liquidate staff’s rights and agreements into the bargain” when the IBRC was liquidated to reach a deal on promissory notes.
To embed this post, copy the code below on your site
Fair play to them. They have every right to what’s justifiably theirs. Just because their former bosses get to swan of to the States Scot free, why should they be left behind in the proverbial shitpile!
Is there any reason why you have a Garda in this photo could you not have used a different one
Who got out of the wrong side of the bed this morning! It’s only a photo…
I remember when Lehman went bust the employees sat there for four more years and then when wind-up was threatened the Unions threatened back with strikes and the employees were clinging on to their salaries for months with the entire failed industry blackmailing the involved for job security and redundancy packages. And then they say we have capitalism in Ireland.
This is a joke. The only outcome ever is more taxes for struggling middle class to pay all the failures in the government and in the financial industry.
Fathead Wallace was having an extended lunch the last day.
I find it very funny that once anglo went into liquidation there hasnt been one word about the quinns
OOPS sorry mea culpa so :-)
Is this wrong photo Aoife it says Esb international
Anglo was in the same building. However, their logo was removed some time ago.
Me thinks that’s the wrong photo aoife it says Esb international ???
Benny
It’s the “former” Headquarters of Anglo on St Stephens Green! How could you Forget this shot of the most photographed building in the world and then to make false accusations against the Journal!
I can think of 33 Billion reasons why these people shouldn’t receive anything more than the rest of the struggling public that Anglo impoverished.
have your say