Business Irish

Thursday 14 December 2017

Staff lose battle for bonuses

UP to 64 staff at Permanent TSB have lost their battle to be paid bonuses owed from 2008 after the Labour Court said the payments were "specifically prohibited" by the terms of the bank's bailout.

Management argued that restrictions "imposed by the Department of Finance" meant all non-salary payments had to be sanctioned by the national management. The Labour Court found that IL&P's "legally binding" bailout agreement "specifically prohibits the company from making any performance bonus payments, no matter when such bonuses were earned.

Laura Noonan

Irish Independent

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business