Nearly 500 staff at National Irish Bank have rejected a new performance-related pay structure. The Irish Bank Officials' Association notified the bank of the ballot outcome yesterday.
While the new structure had potential to significantly increase employees' earnings, the IBOA general secretary, Mr Ciaran Ryan, said they had misgivings about the scheme. Management personnel had not been trained in appraisal systems and the main priority of many of them would be to keep pay costs down.
A spokeswoman for NIB said the pay deal was part of a new strategy throughout the group, owned by National Australia Bank. The company hopes to resume negotiations with the IBOA shortly.