IBOA staff at Ulster accept new deal
ULSTER Bank staff who belong to the Irish Bank Officials Association have voted in favour of an improved redundancy programme, a spokesman for IBOA union said.
A third-party mediator, Martin King, recommended that Ulster Bank pay departing staff four weeks' salary per year of service. This includes statutory entitlements. The payments are capped at two years of pay.
Mr King also recommended €1,500 training grants for departing staff and an early retirement plan for as many as 50 people over 55 years of age.
Staff backed the proposals, which have also been accepted by Ulster Bank, by a "significant majority," the spokesman said.
The IBOA rejected an offer from Ulster Bank three months ago.
Ulster, whose parent is Royal Bank of Scotland, was seeking to eliminate 950 jobs, and was offering to pay three-and-a-half weeks' salary per year of service.