hopefully noonan will make good on his clear out your desks threat to the bankers. I also think the govt should abolish the 30 year rule and publish all govt papers relating to the bank guarantee and imf deal
This is a joke. Every other firm in the country that’s not going well is slashing jobs and wages. These cunts who are in the worst shape of the lot and caused a huge economic catastrophe are carrying on as normal years after they became failed entities. AIB and Bank of Ireland carrying on sponsoring, advertising, not a bother on them. AIB have the audacity to sponsor the Solheim Cup ffs, with who’s fcuking money? AIB Club Championships sponsored again this year too. WTF?? Fillet these cunts ffs.
Merge the banks immediately.
The banks are fine. Sure AIB are sponsoring the Solheim Cup.
My contact in BOI told me the following:
The low level staff in BOI have been on a pay freeze since 08. When word came out about all the bonuses to the BOI top management a few months ago the local managers were very unhappy. In a conference call last week where the local managers voiced their concerns they were told “yes, it was O.G. on our part but now it’s time for everyone to pull together and get behind the bank”
:lol:
+1 - its an absolute disgrace and a shameful slight on the Irish people that it has tolerated since Sept 2008. They are public sector workers effectively - would the HSE sponsoring some mong rugby football team be tolerated? Would be pretty ironic actually.
the flight of capital - is down solely to this fascade of the banks operating normally. If they merged them from day one into a new capitalised bank, little money would have gone to other banks.
A pay freeze since 2008? God love us. Everyone else has been carved up…most people have had a pay cut, but the banks are trundling along as normal sponsoring the Solheim Cup and the like. Even their marketing budget is untouched. Fillet these bastards and fillet them now. I think this sponsorship of the Solheim Cup should be brought to the attention of Irish Times readers.
Who plays for the Solheim cup?
Noonan is preparing a big speech for later today. I presume it’s to address some of these problems.
And another thing, these cunts shouldn’t get anything more than statutory redundancy either. Fucking pricks. 
Girls :lol:
Oh jesus, womens pitch and putt. FFS.
Since when were women allowed to open bank accounts anyway? Talk about wasted sponsorship.
AIB announces plans to cut 2,000 jobs after record loss
ÉANNA Ó CAOLLAÍ
Allied Irish Banks is to cut over 2,000 job after posting a record €10.4 billion net loss on continuing operations last year.
The bank’s loss increased from €2.3 billion in 2009.
In a statement released this morning, the bank – which is 93 per cent Government-owned - said costs must be lowered as business and market conditions remain challenging and the environment for operating income generation “remains difficult”.
“It is expected that a reduction of over 2,000 staff will take place on a phased basis over 2011 and 2012”, the bank said.
Speaking this morning, AIB executive chairman David Hodgkinson said the losses were largely due to poor quality loans where the bank did not expect repayment.
AIB’s deposits fell by €22 billion to €52 billion last year and the bank lost €7 billion on loans it transferred to the National Asset Management Agency (Nama), and a €6 billion impairment charge on other bad loans.
Most of these loans are property-related, Mr Hodgkinson told RTÉ’s Morning Ireland. He said the bank’s deposit outflows have “lessened” and “stabilised” in the early part of this year.
Mr Hodgkinson said the news of the bank’s recapitalisation had been positively met by the market and added he hoped that might represent a turning point for the institution. He said the “bulk” of the loan problems are based in the Republic of Ireland and are property-related.
He said the provision of a “significant amount of capital” in the form of the Government bailout gives the bank the “firepower” to help borrowers in difficulty. “What we want to do is engage with customers who are in difficulty, talk to them, understand their position fully and try and agree a solution with them.”
Mr Hodgkinson said the job cuts will be spread across the organisation. “The bank as a whole has to slim down from the size it was,” he said, adding that he expects the “vast majority” of redundancies to be on a voluntary basis.
He said the bank should be “reasonably generous” when it comes to severance packages as people “are losing their jobs and their livelihoods”.
Minister for Public Sector Reform and Expenditure Brendan Howlin said it was a bleak day for bank workers. “It is clear that there is going to be a considerable downsizing of the banking sector in Ireland, that’s true and that will involve job losses,” Mr Howlin said. “It already has involved job losses for an awful lot of people. I think what people want now generally is some level of certainty.”
Mr Howlin said the decision to restructure the banking sector was the beginning of that process.
Irish Bank Officials Association (Iboa) general secretary Larry Broderick said the job losses were the equivalent of a major multinational pulling out of the country and warned that the Government’s plans to restructure the banking sector could impact around 6,000 workers.
“I would have thought, given the seriousness of this and the fact that the vast majority of staff are not responsible for the mess that AIB is in, that courtesy would have been given to them and they would have been advised in advance,” he said.
Mr Broderick called for a meeting with Taoiseach Enda Kenny and Tánaiste Eamon Gilmore over the banking sector plans. “This is a major, major blow for many, many families in Ireland today,” he said.
Mr Hodgkinson said in the future, the bank will have a focus on the domestic market and on some businesses in the UK.
On recent and anticipated ECB interest rates and, he said AIB would “aim to be quite fair” about how rate changes are passed on.
The speed at which AIB recovers and returns to a position of profitability and self-capitalisation is heavily influenced by the country’s economic prospects.
Mr Hodgkinson said he was “quite positive” about Ireland’s long-term economic outlook. “Ireland has some very powerful competitive advantages, Its an open economy. It is very attractive to international businesses. It has a good education system and a good workforce,” he said.
“Ireland’s costbase has already improved dramatically for business. So really for me, it’s in part a return of confidence that’s needed.”
- WTF??? Generous severance packages for a bank that lost €10 Billion last year?? So we’ve to stump up for these generous redundancies aswell. As for people losing their livelihoods, seeing as the vast majority of these are going to be voluntary redundancies surely it’s more of a case of a lifestyle choice. Nothing over statutory redundancy should be given to these people. They haven’t had to take a pay cut since this crisis started, indeed some have been getting bonuses.
I heard the lad from AIB talking on the radio this morning.
These lads are STILL living in cloud cuckoo land. Talking about 8 weeks redundnacy.
There are profitable companies letting people go who don’t offer that much, let alone a bust bank.
Hopefully the people responsible for the bad decisions that banks made are going to get the bullet as well. It seems to me that it is the ordinary bank worker that is getting shafted while the real culprits, the directors and senior management are getting away scott free. I always thought that since the day the banks went to the government begging to saved that the Minister of Finanace should have sacked every single board member, directory and senior manager responsible for getting the banks into that state. Instead some have walked away with a nice lump sum in their back pocket. Hopefully the ordinary guys in the bank get a nice offer and the senior guys get the bullet and no compensation.
Not everyone has been carved up though or had pay cuts though. Yes everyone has been fucked with this USC charge and the changes in the tax and that inlcudes the ordinary worker in the bank.
Speaking of companies such as the banks sponsoring sporting events and teams, Eircom who are flat broke and are looking at cost cutting measures on their staff, have now confirmed that they are going to sponsor the All Ireland football championship. I’d say that is going down well at Eircom headquarters.
It seems the bank are resigned to not seeing any return on circa €13 billion in “bad loans” which were loaned out mainly to the construction industry. My question is what punishment is there for the lad that ran before he could walk and started taking out massive amounts of money to plough into appartment blocks and housing developments, one after the other, not knowing what he was doing and not knowing probably what a lintel was? Does he just walk away from this scott free? “Ah yeah sure you’re in no position to pay it back, let’s just forget it ever happened.”
The venom directed against bank workers by SS** is appalling.
Appalling stuff alright there.