Thursday 18 January 2018

Anglo Irish liquidators bring back former staff

Colm Kelpie

Colm Kelpie

THE SPECIAL liquidators of the former Anglo Irish Bank are rehiring staff who left before it was liquidated.

The returning staff, who union chiefs claim received redundancy payouts, are understood to be working alongside staff who are facing only statutory redundancy terms, according to the Irish Bank Officials Association (IBOA)

The 800 staff at the bank had their contracts with the former lender and Irish Nationwide terminated when the Irish Bank Resolution Corporation (IBRC) was rushed into a dramatic liquidation on February 7, at the behest of Finance Minister Michael Noonan.

The bulk of staff were rehired on monthly contracts by the special liquidators who were charged with selling off the remains of the bank, or transferring any assets to the National Asset Management Agency.

But employees want formerly agreed redundancy packages to be reinstated, and have held a number of meetings with the special liquidators.

Larry Broderick, IBOA general secretary, said there needed to be balance and fairness for those staff who had remained loyal to the bank.

"Obviously, we're very sensitive to individuals who have no employment, that they are obviously secured in alternative employment, but the concern is that for a lot of staff who have been very loyal to IBRC . . . the fact that people who got redundancy are coming back to work in similar jobs they worked in before is a cause for concern," Mr Broderick said.

"If the Government, through the liquidator, can take people back having given them redundancy, to give them alternative employment, there's no reason that the individuals who have remained don't get redundancy at the end of this process when they lose their jobs."

The special liquidators refused to comment when contacted by the Irish Independent.


Talks are taking place behind the scenes in an attempt to improve the redundancy terms for those staff who were in place when the bank was liquidated.

Following the shock announcement of the liquidation, the Department of Finance confirmed staff would only receive statutory redundancy, which allows for two weeks' pay per year of service, plus one further week's pay.

But workers want improved redundancy terms applied that were signed off in a previous deal.

The nature of the contracts of those who have been rehired is not known.

The IBOA represents the majority of the permanent IBRC workers, between 250 and 300.

Irish Independent

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