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Cullinane calls on Government to honour commitments made to IBRC workers

7 March, 2013 - by David Cullinane TD

Sinn Féin spokesperson on Workers’ Rights Senator David Cullinane has criticised the government for its very poor treatment of the employees of the IBRC, and called on them to stand by prior commitments given to the workers.

Senator Cullinane was speaking during the Order of Business in the Seanad today, and stated that there was an urgent need for action on this issue.

He said;

“It was clear even on the night the Irish Banking Resolution Company 2013 Bill was rushed with indecent haste through the Oireachtas, that the interests of the workers in the IBRC were given a very low priority.

“They were given little to no notice, and were very suddenly informed of this change in their employment circumstances. This disregard that was shown to the workers has been continued since then.

“Sinn Féin is concerned at the situation these workers find themselves in, and particularly those low to middle income earners, who will be wondering what the future holds for them, and how they will keep up with their bills, if they are not kept on.

“The special liquidator to the IBRC informed staff that all contracts of employment with the company are automatically terminated with immediate effect, but as the IBOA have pointed out these workers had agreements with the government in relation to the wind down of IBRC which provided for continuous employment until the bank was wound down.

“These workers are now on temporary contracts, and we hope that as many as possible will soon be transferred to Nama, and we are calling on the government and the liquidator, KPMG, to ensure that as many jobs as possible are retained.

“There was also agreements relating to redundancy, however, as these contracts have been terminated, these terms, and agreements are now gone, and workers who are laid off, face the possibility of merely getting the statutory minimum, which is scandalous, particularly in the context of the money the government has invested in the bad debts of the banks.

“The Government cannot continue to disregard these workers. The powers exist within the IBRC legislation to assist them, and they must use those powers.”


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