Employers’ body withdraws from national pay agreement

IBEC has withdrawn from the terms of the national pay agreement.

The Transitional Agreement reached in September of last year provided for wage increases totalling 6% over 21 months.

However, in a letter to members yesterday, the employers’ body said that following its national council decision in November, it has held informal discussions with ICTU to seek to agree a suspension of the pay terms of the agreement and “an alternative that is appropriate to the prevailing economic and commercial environment in 2010”.