The trade union MSF says it may take industrial action against the Educational Building Society if it does not receive an offer on a compensation package for members involved in euro conversion by the end of this week. The union also has contingency plans in the event of talks with Irish Permanent TSB breaking down.
Irish Permanent TSB, which is now the third largest bank in the State, is meeting its unions at the Labour Relations Commission tomorrow to try and resolve the dispute. The firm has offered 2,000 employees in its banking arm a package similar to that offered to the Irish Bank Officials' Association by the AIB.
The AIB package, on which the IBOA has still to ballot members, is worth £150 (€190.46) to all staff and £600 to those directly involved in the euro changeover, plus a 30 per cent premium on all existing overtime rates during the peak changeover period.
The union's assistant national secretary, Mr Jerry Shanahan, who represents 1,200 of the staff involved at Irish Permanent TSB, said it was vital to obtain an agreement tomorrow because it would take another week to ballot members on the package. Asked if MSF would hold a strike ballot as well, Mr Shanahan said: "That depends on the outcome of talks at the LRC".
The situation was more critical at the EBS, Mr Shanahan said. There had been "no offer at all. If they don't put AIB-type proposals on the table by the end of this week it's our intention to hold a strike ballot."
The other major financial institution to conclude negotiations on euro conversion is Bank of Ireland. The tribunal investigating the IBOA claim is chaired by the former head of the Labour Court, Ms Evelyn Owens, who is expected to issue an award within the next few days.
