Not content with receiving a bailout of €21bn – without which, the bank would be utterly bust – not content with shoveling €1.1bn into its pension fund last August 2012 – without which, AIB would be in the same position as myriad pension schemes around the country and have to renege on pension benefits – and not content with giving redundant staff five weeks pay per year of service – when staff at Vita Cortex had to fight tooth and nail to get 2.9 weeks, this afternoon we learn via the BBC in Northern Ireland that several AIB staff are to receive GBP 2m (€2.3m) of bonuses and contract-increment payments.
In Northern Ireland’s Court of Appeal, three judges decided that AIB’s defence of economic hardship did not warrant reneging on the performance-related bonuses and contracted-increments. The case is said to involve up to 600 staff at the AIB Northern Ireland unit, First Trust Bank. The bonuses are reported to range from GBP 2,000 to GBP 10,000 per employee. So we’re not talking mega-bucks, but for staff in companies that have gone bust across the State, in some cases not even receiving outstanding pay, these additional payments will stick in the craw.
AIB had lost the original case in Northern Ireland’s employment tribunal and had appealed to the Court of Appeal. The bank official’s union had supported the case taken by the staff.
Just ban all bonus in banks. All of them. Without exception.
If people don’t like it they can find jobs elsewhere, and it will be good riddance to bad rubbish sucking off the public teat.
[…] Meanwhile in some real news, the type of news that some of the parties above should be screaming from the rooftops, the always excellent NAMA Wine Lake reports that: […]
Another interesting case underway in belfast involving a developer and Certus(BOSI)
just had a quick check on the courts.ie website and AIB Plaintiff data listed for the republic is something like this…
2007…5 pages,
2008…9 pages,
2009… 13 pages,
2010… 25 pages,
2011… 35 pages,
2012… 35 pages.
pages is screen pages,my screen fits approx 20 cases per page, or approx 2,500 cases in 6 years.
The majority are AIB plc(presumably business loans) with AIB Mortgage share getting bigger as the years go by, but with just 54 cases in 2012.
All a bit unscientific so to speak; what home loan problem?
that search was with ‘AIB'; searching for ‘Allied Irish Banks’ as the plaintiff reveals a further,
2007… 5 pages
2008… 5 pages
2009… 9 pages
2010… 11 pages
2011… 6 pages
2012… 11 pages.
A further 900 odd cases, all depends on the search string.