Ulster Bank to open talks with unions on workers' pay
Published 07/08/2014 | 14:53
Ulster Bank has confirmed it will open talks with unions on pay for the first time since the crash, following Bank of Ireland’s lead last week.
The bank has been in talks with its main trade union the Irish Bank Officials Association (IBOA) since March, and said it had accepted an industrial relations package recommended by an independent mediator which includes details of how future redundancies will be handled.
The pay talks are seen as the next stage, and come after the lender announced its return to profit.
The bank has previously said it expects staff numbers to be reduced by up to 1,500 by 2016, mainly through attrition, but as part of a strategy that will include branch closures.
The bank currently employs around 5,600 staff on the island of Ireland.