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UP TO 400 staff at the former Irish Banking Resolution Corporation will miss out on improved termination terms because they left the organisation too early.
A communication from Labour Relations Commission chief Kieran Mulvey to former staff at IBRC, seen by TheJournal.ie, confirms those who resigned or left the company will miss out on the deal.
It states:
The best proposal I could achieve is a termination payment for staff who see out their contracts with the Special Liquidator. On this basis, unfortunately, those staff who have left or resigned are not eligible for this payment.
Essentially, this means that unless a staff member at IBRC sees out their contract or is told by the liquidator they can leave, they will only be entitled to statutory redundancy and not the improved package negotiated by the LRC last month.
Many of those affected were among the lower-paid employees at IBRC.
‘A kick in the teeth’
A former member of staff, who was at Anglo before moving to IBRC, and spoke to TheJournal.ie on the condition of anonymity, said:
“It’s a kick in the teeth for those who had no option but to leave. We were on month-to-month contracts and we didn’t know if we were going to be retained. It was a no-brainer if a better offer came along.”
“Staff were offered zero incentive to stay, having previously made the decision to assist in the wind down only for the guarantee of a redundancy to be taken away mercilessly.”
Legal challenge
The reason for this, according to the IBOA, is because creditors of the IBRC could legally pursue payments made to those who left early.
IBOA said that Finance Minister Michael Noonan made clear that enhanced redundancy payments could not be made to these people because:
“This would leave open a potential legal challenge from creditors over the use of assets secured through the liquidation.”
The IBOA said that in this context, the deal that was struck is “a positive and welcome resolution for Union members who remain in IBCRC in Special Liquidation.”
Under the terms, staff at IBRC will receive payments of between €2,000 and €18,000 on a sliding scale, depending how long they were at the organisation, Irish Nationwide or Anglo Irish Bank the two bodies that were rolled together to make IBRC.
A source close to the negotiation process said: “It is incredibly unjust and hard on those who did not get it. It wasn’t the union’s position, but when a mediator says ‘this is the only situation I can achieve’, they have to put it to members to vote.”
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Where is the rest of the story? Is that it? There was more information in the
Sub heading than in the few paragraphs below.
Hi Niall,
If you click on the slideshow, each slide has a caption that explains a different point. Can you see the slideshow?
If not, let us know what device you are viewing it on. It’s working on desktop and I’ve just checked it on iOs
and Android and it seems fine there too?
I’m still getting used to this new media way of viewing information! Sorry guys thanks
No problem!
Ummm… What’s it got to do with the Internet? It’s about a pirate TV channel. These were pretty common place all across the US in the 70s & 80s.
It was an absolute SHITE film then and now!! [
Apart from Debbie Harry that is]. Its one of those films you can take whatever meanings you want to out of it or none at all.I took from it that whoever wrote it was on drugs when he wrote the script.
Very weak connections considering the movie focuses on the cathode ray tube being mystical. The addiction and effects are based on a scientist experimental beams.
Not exactly predictions to anything.
Scanners. Cronebergs masterpiece. Eastern Promises underated too
cronenberg is a body horror master, crash, the fly, rabid, scanners etc,etc.
I have loved his recent progression to more drama like material like eastern promise, history of violence & a dangerous method. didn’t like cosmopolis
history of violence was fantastic too!
Debbie Harry yes yes and yes! The movie was terrible.
Long live the new flesh!
Might be a Sh1t movie but a hell of a lot better then any Iris made Movie. and I wonder where internet comes into play it this story.
I will read over it and over it never know it might be in there somewhere in hidden files.
Better than The Snapper? To name but one!
It’s medication time Declan, open wide and swallow.
I think you’ll find Michelle he said ‘Iris made’ One can only assume he was referring to East German filmmaker Iris Gusner
Furthermore: could we all stop talking about the Snapper please? Yes, its just about better than Videodrome but then a documentary about whale sh*te would be too.
Tony la plonk
declan, exactly what is your problem with Irish movies????
you have yet to give any reasons, so stop trolling!!!
@ Michelle: snappy comeback
There’s hardly any link between Videodrome and the internet.
Brian O’Blivion. That about says it all. I expect the author of this wrote it while watching porn with his free hand.
have your say