A THREATENED strike at EBS has been called off after the state-owned bank bowed to a trade union demand to pay so- called "13th month" bonuses dating back to 2011.
Individual payouts will be at least €789 for the lowest paid staff and the payment is now expected to be made along with salaries in October. The total cost to AIB will be around €200,000.
Around 300 mostly headquartered-staff at EBS had voted to mount pickets on branches of EBS and AIB this week if the bank refused to make the payment.
The threatened strike was averted after management at AIB yesterday agreed to make the long-delayed payment.
The payment will be made to EBS staff working in entry-level to assistant manager grades.
The disputed payment is part of a bonus that has been paid annually to EBS staff until it was bailed out and merged with AIB.
Half of the bonus was paid in 2011, the last time any of the payment was made.
That led to a long-running dispute between the management and staff at the bank.
That argument looked to have been resolved in April this year when the Labour Court ruled that the payment could be discontinued in future, but recommended that the full 2011 bonus should be honoured.
However, the outstanding two weeks' payment was never made.
Last week members of the Unite trade union voted in favour of strike action.