Unions support Ulster Bank staff
by Mehak Dugal
 
Ulster Bank has over a million customers and 88 branches in the Republic of Ireland.
Ulster Bank has over a million customers and 88 branches in the Republic of Ireland.

The Irish Congress of Trade Unions (ICTU) has offered its full support to the Financial Services Union (FSU), which represents Ulster Bank staff, after the bank’s UK parent announced it was to pull it from the Republic of Ireland market.

 

The 19th February announcement, which was widely touted, calls into question the future of thousands of Ulster Bank workers and customers.

 

The news was confirmed by NatWest after it revealed a review of its Irish bank indicated it would not be able to achieve “an acceptable level of returns” in future.

 

Ulster Bank has over a million customers and 88 branches in the Republic of Ireland.

 

Ulster Bank’s chief executive has since apologised to staff for the manner of the closure announcement. But uncertainty around the future of the bank’s 2,800 staff remains, even though NatWest insists it will keep job losses to a minimum.

 

Media reports indicate two other Irish banks, Permanent TSB and AIB, have moved to acquire some Ulster Bank assets. The Government is the majority stakeholder in both institutions.

 

FSU general secretary John O’Connell called the bank’s behaviour “unacceptable,” and said that it would be a “disservice” to ignore the behaviour of NatWest towards the staff over the past six months.

 

“There was a statement from them last Friday to say there would be no compulsory redundancies in Ireland. Today, 40 staff are fighting for their jobs,” he said.

 

O’Connell outlined his union’s priorities of avoiding compulsory redundancies, stopping branches closures until the end of next year, and giving staff the option of transferring their work. He said that any proposal for a voluntary redundancy scheme must be agreed with the union.

 

ICTU has called on the Government and Central Bank, which regulates the sector, to take steps to ensure jobs are protected. It also called on them to ensure that ‘TUPE’ regulations, which give limited protection to workers when business is transferred between companies, are applied in this case.

 

As well as its 2,400 Irish-based employees, several hundred contractors and service providers are also at risk. Unions estimate a total of over 3,200 workers face uncertainty.

 

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