TheJournal.ie uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more »
Dublin: 10 °C Thursday 20 June, 2013

200 jobs to go at EBS Building Society

Staff are to hold a meeting to discuss the possibility of industrial action after being informed of the cuts.

Image: Sasko Lazarov/Photocall Ireland

Updated, 22:58

EBS BUILDING Society is to cut 200 jobs, the AIB-owned body has confirmed.

The jobs are to be cut from the company’s head office in Dublin and from premises around the country. Staff were informed of the job losses this afternoon.

A meeting will be held between staff and unions next week to discuss the possibility of strike action.

AIB paid a nominal fee of €1 to buy EBS in  2011 as Ireland’s banking landscape was redrawn in the wake of the economic crisis.

A spokeswoman said the job losses were among 2,500 voluntary redundancies announced by the AIB Group last year.

Colm Quinlan of the UNITE trade union said EBS had yet to resolve a number of issues which arose out of the takeover by AIB.

“They are pressing ahead with savage cuts that will end the relationship it has with customers, many of whom are having to deal with distressed mortgages and are reliant on the human contact that drew them to the EBS in the first place,” he said.

“The way in which regular, often low paid workers are being treated with such callous disregard would be shocking in a private company but in one which is owned and controlled by Government, these actions are unforgivable”.

The company has reduced its workforce from 800 to 400 over the past four years.

Read: €1: The price AIB will pay to take over EBS Building Society >

Read: EBS workers vote to end ’13th month’ strike action >

  • Share on Facebook
  • Email this article
  •  

Read next:

Comments (29 Comments)

  • This is part of the previously announced 2000 redundancies at AIB, parent company of EBS.

    The Union have been sleeping on the job if they have only re-acted now.

    Reply
  • I’m sure the big shots will be fine, it’s the front office staff I have sympathy for.

    Reply
    • Weren’t these “front office staff” given some kind of a bonus last year?

      Reply
    • Weren’t the big shots given ridiculous bonuses last year?

      Reply
    • So let me clarify your position per the old childish rejoinder: ‘they did it too” !

      Reply
    • EBS STAFF were given half a ‘bonus’ payment — worth up to €1250 each in 2012. We should remember this.

      Reply
    • This “bonus” was a % of their basic pay that is withepd every month and paid at christmas. Permanent TSB staff had the same arrangment and it was changed as a result of the EBS strike. It was not a performance related payment whatsoever. Part of their basic wage, so it’s a bit harsh to judge them for striking over a pay cut.

      Reply
    • Declan,

      What world do you live in? A world of take? It’s a much easier and comfortable place to be whenever a state bails you out.

      Reply
    • No, but the pretense their basic salary was cut under was wrong. They had no say in that portion of their basic being with held. It was just the way their contract was drawn up. People heard “bonus” and “bank” and drew their own conclusions without checking the facts. But these are just ordinary people working in these offices. No different to anybody else. Im sure you wouldnt want to see wage cuts anywhere. And to judge them for striking for their basic pay is harsh.

      Reply
    • Nope Declan, the Irish state had bailed out banks so had a say in where other people’s money was being spent. In this case, EBS staff were given a Bonus in 2012. The state capitulated in the end, however you want to put it.

      Reply
    • Theres a link to the end of the strike action which gives some more details in how their wages are structured. You should check it out and have a think about it. I know banks arent exactly popular these days but to hold it against the rank and file staff for defending themselves is a bit unfair. Its not like theyre on big salaries or get any perks like the people you may be thinking of are. These are just ordinary people, front line staff who were defending their contracted pay.

      Reply
    • Bottom Line to all my points:

      Where will we get the money from? Nobody seems to have answered that.

      Reply
    • I see where you’re coming from, “blood from a stone” and that. But that’s another matter altogether. Im only pointing out that this “bonus” is not really a bonus at all. A bonus is generally a reward for good performance. This was simply their basic pay. Cutting this was effectively a pay cut. Which im sure most people will sympathise with in the Ireland of today.

      Reply
  • How come we are been told the economy is steady yet more job cuts

    Reply
    • Barry 29/01/13 #

      These job cuts were expected,

      You can’t have it both ways people.

      You can’t expect banks to cut costs so they are less of a burden on the tax payers and then also expect no job losses.

      Job losses would have been larger and much faster had the banks been allowed go bust like so many people wished.

      Expecting cost cutting and no job losses is just foolish, many of these banks have what can only be viewed as excess staff from the boom times.

      Reply
    • @barry,you mean the same banks that gave rises to its top figures?

      Reply
    • Barry 30/01/13 #

      Steve, yes the same EBS that also gave bonuses to its lower level staff too.

      So the lower level staff are not exactly innocent here

      Reply
  • My god – people on welfare and people working are paying for the banks to the tune of 3.6 billion a year for the next 10 years and the banks make all these people redundant while at the same time sponsor sports like rugby, golf, sailing,tennis, bridge, horse shows, etc.etc. something immoral about the worse off in society paying for all this sponsorship for the rich to enjoy the benefits.

    Reply
  • Gerard 29/01/13 #

    167 jobs announced this morning 200 jobs lost later on that day great improvement huh!!

    Reply
  • I can’t feel sorry for any misfortune that befalls the bank industry when I see the devastation that the banks have caused us.

    Reply
  • Didn’t EBS staff go on strike in protest at the refusal to sanction a long-standing Christmas bonus previously paid to all employees? Isn’t this a slap in the face considering the Irish taxpayer providing the financial stability? Here in my job, most bonuses are non-existent because of the crisis spreading from the bank bailouts and in EBS they give bonuses? :c

    Reply
  • Redundancy is of no benefit to the state, society or the individual. It’s of no benefit to the state because the employee goes from being a net contributor to the exchequer through taxes and USC to a net recipient of unemployment benefit for eleven months and then social assistance. Society loses because the redundant person stops spending which depresses demand even further. The individual loses because most, unless at or near retirement age, have to consider re-training, up-skilling and eventual return to work. Many people in EBS, Bank of Ireland, or Allied Irish Bank entered immediately after school and have had little or no training in any other area apart from banking which not exactly a growth industry at present. There is a training grant of three to five thousand euro available for up to six months which they probably should look at availing of quickly as the best way to return to work quickly is to up-skilll and return to work within a year
    http://www.pitmantrainingswords.ie

    Reply
  • siobeli 30/01/13 #

    My mortgage manager told me of these redundancies back in July!!! When I commiserated with her about her job going, she just smiled and said she was delighted as staff are getting a very, very generous redundancy package!!!

    Reply
    • Alot of the ebs staff are low level, not directly responsible for the economy, have had pay cuts, no pay rises in 5 yrs & no prospect of any for years to come and are tax payers too paying the exact same usc, property tax etc etc & dealing with the same cost increases on less income and are struggling in the exact same way as any other low level staff (and above) in any other business. Stop blaming the ordinary worker

      Reply

Add New Comment