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Union meeting with IBRC liquidator over future of 800 jobs

The contracts of some 800 workers in Ireland were essentially terminated when the government decided to liquidate the bank last week.

Image: Brian O'Leary/Photocall Ireland

IBOA, THE FINANCE Union, has confirmed today that it will be meeting with the special liquidator from KPMG to discuss the future of over 800 employees at IBRC in Ireland.

The fate of the employees was uncertain last week after the government decided to liquidate IBRC in an emergency overnight session. The decision meant the contracts of employment of around 800 people in the Republic of Ireland were essentially to be terminated immediately.

However Finance Minister Michael Noonan said at the time that he understood that most staff would be immediately rehired by the liquidator or by NAMA when it takes on IBRC’s assets.

Members of IBOA are today meeting with the liquidator to discuss what is planned for the 800 employees.

In a statement today, the union said:

A delegation of IBOA members in IBRC, led by General Secretary, Larry Broderick, is meeting Kieran Wallace of KPMG, the Special Liquidator, now to discuss a range of workers’ concerns following the dramatic liquidation of the company in the early hours of Thursday.

Last week, Broderick said that there is no guartantee as to how many people will keep their jobs and what the terms and conditions would be. He said workers had decided to stay on at the bank based on commitments given by the government when agreeing a strategic plan for the wind-down of the financial institution.

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He urged the government to ensure that these commitments were honoured.

Related: Financial services union calls on Noonan to guarantee IBRC jobs>

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