Retention of branch network and workers’ terms and conditions critical to bank future

PTSB:  Retention of branch network and workers’ terms and conditions critical to bank future

In their opinion on the proposed sale of PTSB to BAWAG submitted pursuant to Irish Takeover Panel rules, the PTSB Group of Unions (Unite, FSU and Mandate) have stressed that the bank’s viability as a strong competitor to the other two pillar banks depends on utilising the knowledge and professionalism  of its employees and retaining the existing branch network.

The Group of Unions also stressed that existing collectively negotiated terms and conditions must be protected going forward, pointing out that this is critical to ensuring that the bank retains vital skills and expertise and avoids destabilising staff turnover.

Unite Regional Officer Jean O’Dowd said:

“PTSB’s greatest asset is its network of nearly 100 branches around the country.  If PTSB is to offer a real challenge to the other two ‘pillar banks’, a new owner must commit to investing in the retention and expansion of that branch network, ensuring that staff can deliver a high-quality customer experience to both retail and business customers.  Unless that investment is forthcoming, a real opportunity to transform Ireland’s banking landscape may be missed”.

FSU Industrial Relations Organiser James Callaghan said:

“The sale of PTSB is an important development in the retail banking sector in Ireland. As the largest shareholder in PTSB there is an obligation on the Minister for Finance to  achieve a deal that is in the best interest of the economy, consumers and the staff of PTSB. He must ensure any new owner will invest in infrastructure, technology and importantly staff.  If BAWAG are to become the new owners of PTSB they must commit to maintaining the current PTSB network of branches and to utilising fully the professionalism and knowledge of staff”.

Mandate Divisional Organiser John O’Donnell said:

“Our members are the backbone of making PTSB the success it is. Their commitment, knowledge and experience cannot be understated. Whomever the new owner is they must acknowledge this and how retaining this talent is essential to the future success of the bank, while also committing to the existing collective bargaining structures within the bank which are essential to protecting our members terms and conditions.”

END

PTSB Submission FINAL: https://www.fsunion.org/assets/files/pdf/ptsb_submission_final.pdf

Media contacts:

Unite: ​Alex Klemm, Tel. 087-2606139

FSU: ​​Brian McDowell, Tel. 087-9161225

Mandate: ​John O’Donnell, Tel. 087 966 2774