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Bank of Ireland : 750 jobs lost

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Comments

  • Registered Users, Registered Users 2 Posts: 4,121 ✭✭✭RichardAnd


    It's spread over the UK too and it's over a two year basis so this isn't as bad as it seems. Hardly good news mind.


  • Posts: 23,497 ✭✭✭✭ [Deleted User]


    Makes sense, what are all the folks who dealt with all the mortgage approvals, life insurance etc during the boom doing now ?


  • Registered Users, Registered Users 2 Posts: 666 ✭✭✭deise blue


    Indeed it could be far worse , the IBOA will ensure that all redundancies will be on a voluntary basis which will hopefully include incentivised early retirement.


  • Closed Accounts Posts: 9,364 ✭✭✭ei.sdraob


    Well their investment manager who tried to push me on stocks/hedge funds a month or two before Lehmans fell :P is definitely not around anymore (i had a bad feeling then so said no), and rightly so

    tho I fell sorry for the clerks most of them are nice people and not really highly paid


  • Registered Users, Registered Users 2 Posts: 18,853 ✭✭✭✭silverharp


    I still dont think its fair that these bankrupt banks are allowed to let their staff swan into the sunset with pensions and juicy redundancy payments intact when they are being paid for by ordinary taxpayers.

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



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  • Registered Users, Registered Users 2 Posts: 666 ✭✭✭deise blue


    silverharp wrote: »
    I still dont think its fair that these bankrupt banks are allowed to let their staff swan into the sunset with pensions and juicy redundancy payments intact when they are being paid for by ordinary taxpayers.

    I think the Banks would probably agree with you in that they would certainly prefer to simply fire people.

    They are aware however that both BOI and AIB are hugely unionised and such action would not be tolerated , nor would the Government countenance forced redundancies.

    We should not forget that the vast majority of Bank staff were not involved in the decision making that so altered our economy.


  • Registered Users, Registered Users 2 Posts: 18,853 ✭✭✭✭silverharp


    deise blue wrote: »
    I think the Banks would probably agree with you in that they would certainly prefer to simply fire people.

    They are aware however that both BOI and AIB are hugely unionised and such action would not be tolerated , nor would the Government countenance forced redundancies.

    We should not forget that the vast majority of Bank staff were not involved in the decision making that so altered our economy.

    the facts are the facts but I dont buy the "not involved" argument. The same could be said of the hotel business or any others where businesses have gone into liquidation. The point is "their" redundancy payments are dependant on taxpayer bailout money, when all their contracts "ought" to have been torn up a couple of years back.

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • Registered Users, Registered Users 2 Posts: 1,582 ✭✭✭WalterMitty


    Only 750? great, taxpayers money is being used to a)keep these dogs alive and b)keep excessive staff levels as it would be politically damaging to fire a few thousand c) staff got pay increases in past year in line woth some pay agreement that should have been ditched d) the pension shortfall was also paid off with taxpayers money.

    Afriggin joke in a joke of a country.


  • Closed Accounts Posts: 4,025 ✭✭✭Tipp Man


    silverharp wrote: »
    I still dont think its fair that these bankrupt banks are allowed to let their staff swan into the sunset with pensions and juicy redundancy payments intact when they are being paid for by ordinary taxpayers.

    The banks are practically state owned now and when you work for the state in this country its quids in for the workers and its the taxpayer that pays. Big pensions funded by taxpayers are order of the day for all state workers so why not the banks as well


  • Registered Users, Registered Users 2 Posts: 3,834 ✭✭✭Welease


    silverharp wrote: »
    I still dont think its fair that these bankrupt banks are allowed to let their staff swan into the sunset with pensions and juicy redundancy payments intact when they are being paid for by ordinary taxpayers.

    Why not? Isn't that how the government treats all it's employees irrespective of performance?


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  • Registered Users, Registered Users 2, Paid Member Posts: 24,612 ✭✭✭✭Sleepy


    BOI have been reducing staff steadily over the past few months already...

    I know the branch where my mother works is running on a skeleton staff and is only kept going by unpaid O/T.

    Non story really.


  • Closed Accounts Posts: 1 tdinline


    FYI Most BOI staff have not had any pay increases in the last 2 years. Staff levels have been steadily reduced and remaining ordinary level staff are forced into taking on extra jobs, working extra hours for no payment and take a serious amount of grief from the public and management.. It's the usual story, the ordinary workers are paying for the screw ups of senior management. I understand that costs have to be reduced, but I hope that it applies to all levels of staff.


  • Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    Only 750? great, taxpayers money is being used to a)keep these dogs alive and b)keep excessive staff levels as it would be politically damaging to fire a few thousand c) staff got pay increases in past year in line woth some pay agreement that should have been ditched d) the pension shortfall was also paid off with taxpayers money.

    Afriggin joke in a joke of a country.

    Please don't refer to bank workers as dogs on this forum.


  • Registered Users, Registered Users 2 Posts: 1,444 ✭✭✭Kalimah


    tdinline wrote: »
    FYI Most BOI staff have not had any pay increases in the last 2 years. Staff levels have been steadily reduced and remaining ordinary level staff are forced into taking on extra jobs, working extra hours for no payment and take a serious amount of grief from the public and management.. It's the usual story, the ordinary workers are paying for the screw ups of senior management. I understand that costs have to be reduced, but I hope that it applies to all levels of staff.

    I'd agree with that from what I know as an ex B of I employee. It was ever thus in the bank. Somone earlier mentioned that the banks were highly unionised. I kind of doubt that now after the strike of 1992 when a raft of people left/were expelled from the union. It hasn't had the same bite since:(


  • Registered Users, Registered Users 2 Posts: 10,903 ✭✭✭✭Riskymove


    nesf wrote: »
    Please don't refer to bank workers as dogs on this forum.

    tbf I read taxpayers money being used to
    a)keep these dogs alive
    as a reference to the Banks rather than bank workers


  • Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    Riskymove wrote: »
    tbf I read taxpayers money being used to as a reference to the Banks rather than bank workers

    Possibly. If that was the case, no problem.


  • Registered Users, Registered Users 2 Posts: 666 ✭✭✭deise blue


    Kalimah wrote: »
    I'd agree with that from what I know as an ex B of I employee. It was ever thus in the bank. Somone earlier mentioned that the banks were highly unionised. I kind of doubt that now after the strike of 1992 when a raft of people left/were expelled from the union. It hasn't had the same bite since:(


    The IBOA now has more members than it did prior to the 1992 strike.

    In recent years recruitment has dramatically increased due to well founded fears regarding job losses allied to the possible dimunition of terms and conditions.


  • Registered Users, Registered Users 2 Posts: 1,444 ✭✭✭Kalimah


    deise blue wrote: »
    The IBOA now has more members than it did prior to the 1992 strike.

    In recent years recruitment has dramatically increased due to well founded fears regarding job losses allied to the possible dimunition of terms and conditions.

    Actually I didn't know that. I was in the IBOA until 2002 when I left the bank. It was blooming hard to get young people to join at all and where I was in the call centre the union was very neccessary. How times have changed.


  • Registered Users, Registered Users 2, Paid Member Posts: 24,612 ✭✭✭✭Sleepy


    deise blue wrote: »
    The IBOA now has more members than it did prior to the 1992 strike.

    In recent years recruitment has dramatically increased due to well founded fears regarding job losses allied to the possible dimunition of terms and conditions.
    The numbers don't matter so much these days. Internet banking and cash machines weren't as prevalent as they were in '92. Social welfare is handled through An Post rather than cheques which are cashed in branches and most people are paid electronically instead of with cash or cheques which have to be cashed in branch.

    An IBOA strike would have to last weeks on end to have any serious impact in the modern world, management and any staff that disagreed with the strike (or didn't want to adversely affect their chances of promotion) or just realised that a strike would hurt them far more than the bank. The banking unions have been neutered by technology and the modern world.


  • Closed Accounts Posts: 10 gerupouvit


    my bro works at boi presently....25 yr old male, dont think he earns enough to qualify for this redundancy- believe it or not very slightly above minimum wage- he cant wait to get out- works late with NO overtime most days due to skeletal staff in branches (everybody takes on a couple of roles)
    queues are out the door, off the wall every day, they cant cope with the sheer volume of footfall thru the branches.(im a cust i know :mad:)
    who suffers? their hundreds of thousands of CUSTOMERS. Who gets the brunt? the likes of FRONTLINERS like him, mopping up the greed for the bigwigs...
    its 'for the brand he sed they wer told LOL:( 'we are the tallest of seven dwarves' :eek: stfu CHIEF EXECS IN BOI AND AIB HAVE ****ED US ALL...cudnt give a **** bout staff or customers
    he young enough to train again and do something else thank jebus...its the colleagues who joined a 'job for life' with boi really suffer :mad:
    btw i reckin '750' is testing the water....


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  • Registered Users, Registered Users 2 Posts: 7,177 ✭✭✭Barr


    Bet it will be the frontline staff that will be hit and they aint well paid anyways.


  • Closed Accounts Posts: 10 gerupouvit


    Barr wrote: »
    Bet it will be the frontline staff that will be hit and they aint well paid anyways.

    my bro has sed apparently most young staff want out. they wanna leg it, sinking ship. bt higher ups want ppl on 80kplus a yr out, cost effective!


  • Registered Users, Registered Users 2 Posts: 666 ✭✭✭deise blue


    Sleepy wrote: »
    The numbers don't matter so much these days. Internet banking and cash machines weren't as prevalent as they were in '92. Social welfare is handled through An Post rather than cheques which are cashed in branches and most people are paid electronically instead of with cash or cheques which have to be cashed in branch.

    An IBOA strike would have to last weeks on end to have any serious impact in the modern world, management and any staff that disagreed with the strike (or didn't want to adversely affect their chances of promotion) or just realised that a strike would hurt them far more than the bank. The banking unions have been neutered by technology and the modern world.

    True , the IBOA would have to be a lot more imaginative in the unlikely event that we ever again see a Bank strike , what is however indisputable is that unionised Banks will secure far better conditions than employees in non unionised financial institutions , one has only to consider the vastly superior redundancy terms offered by Ulster Bank to those offered by Anglo.

    As you say times have indeed changed to the extent that our major Banks ,given their tenuous financial situations ,can ill afford industrial action something which the IBOA are well aware of.

    Equally given the State's involvement in our Banks the Government are not going to countenance any strike that will further damage our reputation abroad.

    Given the above and to keep the union onside
    and to maintain whatever fragile staff morale is left I think we will see an incentivised package aimed at older, better paid staff.


  • Closed Accounts Posts: 154 ✭✭soden12


    Good to hear that those who have benefitted from being in the cosy 2nd public service of this country finally get a dose of reality.

    No more subsidised mortgages and loans, no more subsidised loans for their BMWs, no more short working days, no more treating ordinary customers like rubbish whilst kowtowing to Seanie Fitz and the boys.


  • Closed Accounts Posts: 154 ✭✭soden12


    gerupouvit wrote: »
    my bro works at boi presently....25 yr old male, dont think he earns enough to qualify for this redundancy- believe it or not very slightly above minimum wage- he cant wait to get out- works late with NO overtime most days due to skeletal staff in branches .

    Works late ? At my local bank you'd be crushed in the exodus of staff at a minute to five...


  • Closed Accounts Posts: 975 ✭✭✭uvox


    The IBOA's only objection to NAMA was that it could lead to jobs losses for their own members due to consolidation. Otherwise, they endorsed it. Contrary to their posturing on the position, in fact their members benefited from banking strategy, notably in the area of bonuses and discounts on their own products, without a whimper of the possible consequences.

    They should get used to the layoffs. There are a lot more coming in that sector.

    The question is why has it take so long when every other industry has suffered so badly.


  • Registered Users, Registered Users 2 Posts: 4,619 ✭✭✭jaffa20


    soden12 wrote: »
    Works late ? At my local bank you'd be crushed in the exodus of staff at a minute to five...

    The work doesn't stop once the doors are closed at 5pm you know?

    BOI staff did not get pay raises unlike AIB (as it seems) over the last two years. Staff have been let go continiously as many are on temporary contracts for years. The recent news was not much of a shock but there was never any annoucment of voluntary reduncancy, just an annoucement that 750 jobs will be lost over the next 2 years.

    I do agree that there needs to be a total overhaul of the management system within BOI as there are too many senior staff who are overpaid for the duties that they carry out.

    I think people should think twice before taking out on the frontline staff in branches and clerical workers who deal with customers over the phone when they are having just as hard a time as the rest of us and had no involvement in the banking crisis.


  • Registered Users, Registered Users 2 Posts: 749 ✭✭✭waster81


    Come on all bank staff profited from the decisions made by management.

    They enjoyed increase in share price if they purchased them at a discount im sure.

    WHy are bank staff different most other people have taken a 15-20% pay decrease. Have bank staff?

    They have lavish pensions which a lot dont have to contribute to.

    Absolute idiots in the banks, that made crazy decisions.

    All through the organistion they are incompetent people making decisons.

    So guess its about time they started cutting salaries, losing jobs, contribute more to pensions, started opening on days that suit their customers ie saturdays when most people can actually get to a bank without having to take time off


  • Closed Accounts Posts: 10 gerupouvit


    are you for real.....boi have a pension crisis atm....boi workers are low paid, and told to sell sell sell boi only care about figures, they are a machine, work on performance base, quarterly reviews but no increase till 2012, sickos. MONEY MONEY. stop buryin our heads, boi and aib are *laughing all the way to the bank* STAFF AND CUSTOMERS SUFFER


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  • Registered Users, Registered Users 2 Posts: 749 ✭✭✭waster81


    Pension crisis because employees arent contributing a lot to the penions.

    No pay increase until 2012, why exactly do you think they should be different, there are thousands of people not getting pay increases or even looking for them

    If bank employees dont like their jobs, they can leave plenty of other motivated people willing to take thier jobs


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