Bank staff told they will have to accept pay freeze

JUST weeks after Ulster Bank announced that it wants to make 250 staff redundant, it has now told staff that those who remain will have to accept a pay freeze and changes to their pensions.

The Irish Bank Officials Association (IBOA), which represents workers at the bank, has sought urgent meetings with its members about what it describes as a unilateral announcement that was neither discussed nor agreed with the union.

The union is particularly angry given that it is in the midst of a mediation process with the bank under the chairmanship of Labour Relations Commission chief executive Kieran Mulvey. That is discussing how the 250 redundancies will be achieved, as well as any changes to terms and conditions of staff.