BoI Faces 24-Hour Strike Over Bonuses

Issued : 25 June 2008

By Niamh Hennessy

IRELAND is facing its first national bank strike in 15 years after Bank of Ireland (BoI) workers voted in favour of a 24-hour work stoppage.

Thousands, of the bank's customers will be affected by a decision to stop work at 8am on July 8 - the same day the bank
holds its annual general meeting (AGM).

The Irish Bank Officials Association (IBOA) said 92% of its members working at the bank voted in favour of taking limited industrial action in protest at the reduction in bonuses this year.

The dispute arose after the bank's senior executives recommended the stock issue for its 16,000 employees be cut from 6% to 3%.

That would mean a €1,500 euro reduction in the bonus for the average bank official earning €50,000.

The announcement of industrial action came as Bol reached a 52-week low in Dublin trading.

IBOA said the majority of its members working at Bol are employed in the bank's 280-strong retail network.

It said some areas of head office will be affected as will the bank's online service.

Bol said the move was "completely unwarranted and against the interests of staff and customers".

It said it was "irresponsible to contemplate industrial action at this time given the difficult business environment in Ireland and internationally".

It added the threatened action by IBOA shows "the union is completely out of touch with the business and economic realities".

The IBOA said its members in the North and Britain have also indicated their support for limited industrial action adding it will hold a formal ballot of these members in due course.

IBOA general secretary Larry Broderick said: "As shareholders in the bank our members have been invited to attend the bank's AGM next month. But following correspondence between IBOA and the governor of the bank, Richard Burrows. it is clear the bank is unwilling to facilitate the attendance of employee shareholders in any meaningful way.

"Since the bank has insisted on holding the AGM on a working day, the only way our members can take up the invitation is to absent themselves from work for the day."

The last time Ireland saw a major national bank strike was 1992 when banks across the country shut down for six weeks in a prolonged, bitter strike over changes in work practices..

Irish Examiner