Bank of Ireland and KBC need to confirm staff will transfer with the work says FSU.

Issued : 16 April 2021


No excuse for not establishing a banking forum.

John O’Connell, General Secretary of the Financial Services Union (FSU) has called on Bank of Ireland (BOI) and KBC to publish the memorandum of understanding and to confirm that transfer of understanding legislation (TUPE) will apply to any possible sale of KBC to BOI.

“The announcement this morning that KBC and BOI have entered into a Memorandum of Understanding is a deeply worrying development for staff, customers and communities. The FSU are calling for immediate clarification from BOI and KBC that transfer of understanding legislation will apply to any deal that may be done and that staff will follow the work. Both Banks need to confirm that this is enshrined in the memorandum of understanding.

It is not good enough that once again staff are the last people to be informed about the future of their jobs. This is not the way that change should be managed.  The FSU will be writing to both BOI and KBC to express our dismay at the lack of consultation and to request an urgent meeting to discuss the protection of jobs, the timeframe expected for completion of the discussions and the effects this announcement will have on staff and customers.

The FSU again call for an inclusive debate on the future of Banking in Ireland involving all stakeholders.

It is time for the Minister and the Central Bank to act and establish a banking forum where the voices of all relevant stakeholders can be heard” concluded Mr O’Connell.