Friday October 23, 2020

Freeze is put on bank severance packages

Industry Correspondent The Department of Finance is understood to have called in representatives of all the state supported banks last month, to tell them to put a freeze on generous redundancy packages for bank employees.

13th August, 2011

Industry Correspondent The Department of Finance is understood to have called in representatives of all the state supported banks last month, to tell them to put a freeze on generous redundancy packages for bank employees.

Most of the agreed terms to date for voluntary redundancies in the sector have been six weeks per year of service, and the statutory entitlement of two weeks. Informed sources said the department want the banks’ terms to move closer...

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