The Irish Bank Officials Association (IBOA) could begin balloting on compensation packages for its members handling the euro in the associated banks as early as next week. Talks facilitated by an independent tribunal with the Bank of Ireland and at the Labour Relations Commission with Ulster Bank are expected to conclude today, writes Padraig Yeates.
Once the findings are known, the IBOA executive is likely to put them to ballot within a matter of days, provided they are on a par with those offered by AIB. Most AIB staff will receive at least £750 (€952) and many up to £1,500 or £2,000.
Security firms have agreed to make a special £800 payment to 350 cash-in-transit staff who will be supplying ATM machines on January 1st, 2002 - known in the security industry as "E-Day".
Most of the workers are also expected to receive payments of £2,000, but in return they have agreed to "park" annual leave and work every day, including bank holidays, between November 1st and February 28th.
In contrast CI╔ staff have fared very poorly on the euro conversion. Bus drivers and inspectors will receive £120, the equivalent of one day's pay, for euro training. Iarnr≤d ╔ireann has made no offer at all. The total extra wage cost to CI╔ will be less than £500,000, compared with well in excess of £5 million for AIB.
