What’s it like to work at the bank that’s become the focus of public anger? Some would rather get wet than use a company brolly, says one worker
‘BEFORE all this stuff happened, Anglo was an exciting place to be. We went to college and many earned financial degrees. Then we entered the workplace and got to put that study into play. We had a chance to deal with some of the biggest customers in Ireland – and we learned a lot along the way.
I suppose Anglo was always seen as a little different from other banks, especially in that it was more sales focused. Business didn’t just land on your desk, you had to go out and win it. When you got a job here, the story around town was that you had to work a lot harder than in other banks. But, if you were successful, the rewards were there.
The workplace was normal. I had worked in a few companies before here and it was no different to any of those. If anything, everyone seemed more self-motivated in Anglo than in your typical organisation. Like any workplace, you worked hard during the week and you loosened the tie on a Friday.
The day the work environment began to change for us was the day in March last year when the Bear Sterns bank folded. From that point on things started to go into a downward spiral. The mood really began to darken around September, when we could see banks around the world getting into trouble. Initially there was a sense that the problem was just related to the US sub-prime market. Anglo didn’t have a sub-prime market, but of course we had other issues.
Now, many banking institutions are despised. Morale is at an all-time low. This is a culmination of two things. One is a feeling by ordinary staff that calamities coming out of the institution are as a result of the actions of staff much higher up in the company. Staff were hearing about things in the media before they were communicated internally.
We are pretty much government-owned now and probably the senior management were taking their cue from Government press releases. Because of market sensitivities and leaks, staff couldn’t be informed too far in advance about developments that directly affected us. That led to communication delays and in a situation where you have bad morale, that makes things worse.
The second thing, which had an effect on morale, is that this summer there was very little to do, given the damage done to the reputation of the bank. I wouldn’t go so far as to say people in here have nothing to do, but the institution is changing and with Nama being set up and so on, there is still work. But it’s not going at the pace it was in its heyday, that’s for sure.
I have experienced a small amount of public abuse, but because we are dealing mostly with business people it’s not so widespread. I think for the most part people realise that the Anglo employee at the end of the phone didn’t cause this mess. The bigger problem is one of reputation, and how you feel as a person being associated with a brand like Anglo Irish Bank. Employees here have stopped wearing their Anglo jackets and I’ve also noticed that most employees would prefer to get wet in the rain to using the Anglo umbrellas.
Previously, when employees were asked where they worked, they would say Anglo Irish Bank. Now they say financial services, or insurance or some even lie about it completely. If there is no need to bring it up, it is just not volunteered.
There is talk about redundancies. Most staff would have expected it a lot sooner than this. Bear in mind the low morale and the stigma of working here is hard to cope with. Many actually want an exit. I can’t see the bank having a problem getting volunteers for a redundancy package.
In terms of the continuing negative media reports on the bank, after a while you become somewhat immune to it. Many feel really let down. But it has been going on for so long now, we try not let it get to us.”
The employee was in conversation with
BRIAN O'CONNELL
