FSU launches 'Secure Our Salaries' Campaign in AIB

Issued : 13 May 2018

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At its conference in Limerick this weekend the Financial Services Union announced its intention to launch a fair pay campaign in AIB.

At the core of the campaign is a demand for a cost of living increase to all salaries, separate to any performance-related increases.  The Union is also campaigning for a transparent and defined career path for all staff, providing new entrants, for example, with certainty as to how their career in the bank will develop.

During his speech to the Union conference on Friday, General Secretary, Dermot Ryan, strongly criticised AIB executives for seeking a bonus scheme in recent weeks stating, “It is beyond belief that a bank, bailed out with public money, and only recently returned to good order, should propose, as a matter of priority, a bonus scheme for senior executives.”

Ryan instead urged the Bank to focus any pay increases for staff in the bank on low to middle incomes, “before clambering for the return of bonuses.”

FSU senior industrial relations official, Billy Barrett said, “AIB is one of the most profitable banks in the euro zone.  It also has a cost/income ratio below the European average, at 48%.  The Bank is in a stable position, returning a pre-tax profit of €1.6b in 2017 for example. 

“The contribution of staff to the turnaround in the Bank’s fortunes has been immense.  In the past decade they have endured pay freezes, longer working hours and fundamental changes to their pensions.  Now is the time for the Bank to acknowledge the contribution of staff and put in place a fair pay and reward structure.

“Unfortunately, AIB is refusing to accede to our demand for minimum cost of living increases for all staff.  It is also resistant to our campaign to restore benefits taken from staff during the financial crisis.  This is flying in the face of a recent Labour Court recommendation which stated:

“The Bank is no different to other sectors of the economy and employees that co-operated with adjustments to pay and conditions of employment during the crisis are entitled to have those progressively reversed as circumstances improve.”

“We are currently setting out the parameters of a pay deal for 2019 and beyond.  The Bank’s response to our agenda has so far been dismissive.  This isn’t acceptable. 

“In the coming weeks FSU members through AIB will embark on a campaign to mobilise all staff behind the Union’s pay claim.  We’ll be actively recruiting new AIB members, demonstrating the strength of feeling through a staff petition and increasing the visibility of our campaign at all AIB workplaces.

 

“The Bank needs to understand that strength of feeling among FSU membership in AIB.  They have endured much in the past decade.  They now have an entirely justifiable demand for fair pay and the restoration of benefits.  They are reasonable demands and AIB management needs to change its tune and engage with the Union in a constructive manner.”