Wednesday 18 October 2017

Staff threaten strike over pay cuts plan

AIB staff yesterday threatened strike action after voting against management proposals to cut salaries and pensions.

Banking union IBOA said its members had been "virtually unanimous" in their rejection of the bank's proposals to reduce pay and pensions, as well as other benefits for employees who remain in the bank after it has shrunk itself to what it sees as the appropriate size for its future.The bank is looking for 2,500 redundancies.

"An overwhelming majority (of our members) would be prepared to join in litigation to prevent the implementation of the proposals while a substantial majority have said they would be prepared to take industrial action if the bank attempts to impose the changes (unilaterally)," said the union.

"(The bank and Government) need to engage meaningfully with the union on a fair deal," said IBOA chief Larry Broderick. An AIB spokesman said the bank "must continue our focus on reducing overall costs".

"We need to ensure the cost base is more properly aligned to the operating performance of the group."

Peter Flanagan

Irish Independent

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