Banks should review their stance on redundancies after Labour Court recommendations

Issued : 23 November 2020

Press release from the FSU

Banks should review their stance on redundancies after Labour Court recommendations

New ways of working can help alleviate the need to cut jobs

A recent Labour Court recommendation has opened the possibility of remote working being used as a device for alleviating redundancies in the banking sector according to John O’Connell, general secretary of the Financial Services Union.

In a recent ruling the labour court recommended that “the employer should consider all possible means to reduce the possibility of compulsory redundancies. Such matters will include a comprehensive consideration of the potential role which may be played by remote working as a strategy in respect of some roles”

“This is a very welcome and important recommendation from the Labour Court and a recognition of the new norm of remote working” stated Mr O’Connell.

“The majority of jobs created in the financial sector over the last few year have being created in Dublin and Belfast with job losses predominantly in more rural areas.  Pre COVID-19 it would have been difficult for someone in rural Ireland to be redeployed to Dublin or Belfast.

Remote working allows staff to be redeployed easily across the County without having to move home and should be used a lever to spread job creation more evenly across the Country “stated Mr O’Connell.

“The banks proposals were formed pre COVID-19. They should now review their plans to take account of the new norm and to consider how remote working can help alleviate some of the proposed job losses “concluded Mr O’Connell.

ENDS

Contact: Brian McDowell, Head of Communications and Public Affairs, FSU. Tel: 087-9161225. Email: [email protected].

 

About FSU: The FSU is Ireland’s leading union across banking and finance. We represent thousands of staff across the main retail banks, and we have members in more than 70 companies across the finance and fintech sectors. Our members are spread across the Republic of Ireland, Northern Ireland, and Great Britain. We are headquartered in Dublin and we also have a presence in Belfast. We are members of the Irish Congress of Trade Unions and UNI Global finance union.