Staff at the former EBS building society started strike action today in protest at the refusal of the Department of Finance to sanction a long-standing Christmas bonus previously paid to all employees.
Some 300 Unite trade union members working in EBS voted overwhelmingly in favour of industrial action last week.
They are picketing two branches; the Square in Tallaght and William Street in Limerick, and the company’s head office on Burlington Road in Dublin.
The bonus, which amounts to one month’s pay, has been paid to all building society staff for the last 45 years and is part of their contract of employment.
The company is not paying it this year after the Department of Finance – which has to approve bonus payments made by all State-controlled banks – refused to allow it.
However, the payment is being made to senior management who exercised an option several years ago to change the structure of their pay package so that the “bonus” was incorporated into their regular pay terms.
No such option was offered to ordinary staff, Unite said.
“This is the first stage of what will be escalating action to right this wrong,” said Unite regional officer Colm Quinlan said.
“We are sick at the continuing evidence that there is one law for the well off in Ireland, and another for what are seen to be easier targets. If management does not seek to resolve this issue we will hold a general meeting of all staff on 11th January at which point we will escalate the protest further.”
EBS said it understood that staff were disappointed but that it "very much regrets the industrial action being taken" by the Unite members.
It said that managers at EBS had not received a bonus payment since 1992, when the payment was incorporated into their salaries, in the form of a once off pay increase.
“EBS currently employs 132 managers, only 12 of whom were working with the company pre-1992,” it said.
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