21 January 2010 Edition

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RBS bank axes 221 jobs in Ireland

THE Royal Bank of Scotland (RBS), which owns Ulster Bank, has been urged by the Irish Bank Officials’ Association to reconsider its announcement on Tuesday that it is to cut 221 jobs on the island of Ireland as part of a major restructuring programme.
The bank met with 196 technology services staff in its Dublin office and 25 in Belfast on Tuesday to tell them that they are to be laid off.
Some of the jobs will be moved to Britain and elsewhere overseas.
IBOA General Secretary Larry Broderick said:
“While IBOA acknowledges management’s commitment to negotiate with the union about these job losses on a voluntary basis, it is clear that unless RBS provides alternative IT job opportunities in Ireland, these redundancies will to all intents and purposes be compulsory.”
He added:
“Furthermore, since RBS received substantial incentives to set up its operations in Ireland, it is not acceptable that they can just walk away and abandon these highly-skilled and committed staff who have performed to a consistently high level.”

Singer and political activist Billy Bragg has pledged not to pay his taxes in protest against the £1.5 billion bonuses being paid out by Royal Bank of Scotland, which is 84%-owned by taxpayers in Britain and the Six Counties.
Billy Bragg says on his Facebook protest page, ‘NoBonus4RBS’:
“What I don’t understand is why, now that we taxpayers are the majority shareholders of these banks, we seem totally powerless to curb their excessive bonus culture?
“Meanwhile, we are being softened up by the main political parties for painful cuts in public spending.
“I believe that the Government have their priorities wrong.
“I have written to the Chancellor of the Exchequer, Alistair Darling, to inform him that I am no longer prepared to fund the excessive bonuses of RBS investment bankers. Unless he acts to limit them to £25,000, I shall be withholding my tax payment on 31 January.”


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