BOI staff on Strike

MikeC101

Poor Uncle Tom wrote: »

What's the difference for them being on strike as opposed to a normal working day?

They do it outside...:)

Suffice to say, anyone I know working in a bank puts in pretty long hours, and works hard. It's not the public service you know.

MikeC101

thelordofcheese wrote: »

given they turned a profit when the rest of the bank was bleeding money, i'd say otherwise.

Good point.

First of all, the people on strike are mostly earning under 30k a year - they're admin staff, hardly banking fat cats.

Secondly - they actually made a profit for the bank, they're hardly the ones who tuk aarr tax dollars.

Shambodie

RoadKillTs wrote: »

The union says the group of staff involved, most of whom are on salaries of less than €30,000, have taken a decrease in salary of 12 per cent this year due to the non-payment of company-related performance payments.

Hardly a 'pay-cut' if it's company related performance payments... they're not exactly doing great business at present... I understand joe soaps getting angry about pay cuts etc however they're hardly minimum wage workers in there, and it's better than being in the dole queue. they likely have two options, go on strike & get a pay increase and wait until management decide to downsize... or keep their mouths shut and cling onto whatever job they have until this stuff blows over... which i doubt will be for another half decade... if even I'm not complaining, i'm 12% overdue on my salary and i'm not earning a fortune. I'm happy to have a job

ro2

thelordofcheese wrote: »

given they turned a profit when the rest of the bank was bleeding money, i'd say otherwise.

They just lost other people's money. Pat on the back for the lot of them.

Lexus1976

thelordofcheese wrote: »

given they turned a profit when the rest of the bank was bleeding money, i'd say otherwise.

Where are you getting your figures from? Judging by the report below 2008 figures, BOI Life was down 27% compared to Retail up 3% and Capital Markets up 21%

Bank of Ireland Life delivered PBT of €108 million, 27% lower than the prior year, primarily due to the impact of a negative investment variance of €50 million.

Retail Republic of Ireland delivered PBT growth of 3% to €716 million in an increasingly challenging economic environment. BoI says that strong cost containment was a key contributor to significant efficiency gains. Profits have been impacted by a higher impairment loss charge reflecting the slowdown in the economy.

The Capital Markets Division PBT increased by 21% to €651 million, excluding the trading impact of the Davy disposal. Corporate Banking increased PBT by 13% delivering strong lending volume growth across portfolios and geographies, improved margins and "continuing excellent asset quality," while lobal Markets delivered "an excellent performance in volatile trading conditions with a PBT increase of 54%."

MikeC101

ro2 wrote: »

They just lost other people's money. Pat on the back for the lot of them.

Explain to me how a lower level admin worker, with no say over investment strategies or policies, and whose reponsibility deals only with administration and dealing with customer enquiries, is responsible for losing other peoples money?

thelordofcheese

ro2 wrote: »

They just lost other people's money. Pat on the back for the lot of them.

well done, with that singular salvo of mediocre nonsense you've shown that you've got a very poor grasp of.. well, pretty much everything.

unreggd

since when do BOI have customers??

ro2

MikeC101 wrote: »

Explain to me how a lower level admin worker, with no say over investment strategies or policies, and whose reponsibility deals only with administration and dealing with customer enquiries, is responsible for losing other peoples money?

Why should a lower level admin worker get a bonus then?

Lexus1976

MikeC101 wrote: »

Explain to me how a lower level admin worker, with no say over investment strategies or policies, and whose reponsibility deals only with administration and dealing with customer enquiries, is responsible for losing other peoples money?

The staff involved are not all lower level admin workers and some are earning quite a lot more then €30k per annum.

I'm finding it quiet difficult to believe that these lower level staff administors are earning less then 30k per year considering I worked in life and pensions as an admin 8 years ago starting salary 32k per annum, plus benefits.

Makes you think how these figures have been manipulated.

ro2

thelordofcheese wrote: »

well done, with that singular salvo of mediocre nonsense you've shown that you've got a very poor grasp of.. well, pretty much everything.

I'm sure all the customers of BOI Life that have seen the value of their pension investments decline think it's nonsense too. A bonus is based on performance. The performance of their group wasn't good enough, so they're not getting it.

The dept they work for made a loss last year according to this article:

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSLM39644320090722

MikeC101

ro2 wrote: »

Why should a lower level admin worker get a bonus then?

Not saying they should - I just think it's ridiculous you accuse them of "losing other peoples money"

MikeC101

Lexus1976 wrote: »

The staff involved are not all lower level admin workers and some are earning quite a lot more then €30k per annum.

I'm finding it quiet difficult to believe that these lower level staff administors are earning less then 30k per year considering I worked in life and pensions as an admin 8 years ago starting salary 32k per annum, plus benefits.

Makes you think how these figures have been manipulated.

32k seems high enough for a starting role in admin, did you have relevant experience maybe? The pay seems to vary from about 24k to 32k starting salary depending on qualifications / experience etc...

If 30k is low for admin, then it makes me wonder what job the people on below 30k are doing?

Santa Claus

RoadKillTs wrote: »

I'll never understand why people can't accept responsibility for their own actions.

People like banks and their staff ??
I remember BOI staff ringing me to ask did I want a loan to buy shares in the eircom floatation.
The Banks were throwing money at developers/borrowers for the past few years and are now suprised that the bubble has burst and they're stuck with land/properties that are worth a fraction of what they lent.

Only for the government bailing the banks out then the BOI staff wouldn't have jobs and there's be redundancies rather than a 12% pay cut.

Fair enough it's not ALL the staffs fault, but it's better to have a job these days than go on strike because you have to take a pay cut !!!

They'll lose all public sympathy going on strike and if some foreign bank wants to buy them and shut half the branch network down and enforce redundancies people won't be so quick to support the staff !

Lexus1976

MikeC101 wrote: »

32k seems high enough for a starting role in admin, did you have relevant experience maybe? The pay seems to vary from about 24k to 32k starting salary depending on qualifications / experience etc...

If 30k is low for admin, then it makes me wonder what job the people on below 30k are doing?

Had a qualification and work experience but not in finance or life and pensions.

Looking at the pictures of the strikers on the web, none of them seem young as in just out of college, good question, no idea what type of work they were involved in.

ro2

MikeC101 wrote: »

Not saying they should - I just think it's ridiculous you accuse them of "losing other peoples money"

They (BOI Life) did lose other people's money. Look at the value of their pensions and investments over the past year. I wasn't accusing the cleaning staff of speculating with people's pension money.

Lexus1976

ro2 wrote: »

They (BOI Life) did lose other people's money. Look at the value of their pensions and investments over the past year. I wasn't accusing the cleaning staff of speculating with people's pension money.

Ha ha ha looking at those pictures of the strikers some of them do look like cleaning staff. Mystery solved. Considering they were'nt involved in financial practices and were merely cleaning up the office. I dont really mind them getting a pay rise. They deserve it!

SEPT 23 1989

the taxpayer is paying your wages

your organisation is bankrupt

keep your heads down

and enjoy having a job

galwayrush

Took me 6 months to manage it, but i no longer need the useless facilities that are called banks anymore. They stopped being useful to me, became a hinderance, :mad:
Cash is King.:cool:

Gummy Panda

galwayrush wrote: »

Took me 6 months to manage it, but i no longer need the useless facilities that are called banks anymore. They stopped being useful to me, became a hinderance, :mad:
Cash is King.:cool:

Mental note: When breaking into galwayrush's home, look under his mattress for monies

galwayrush

Gummy Panda wrote: »

Mental note: When breaking into galwayrush's home, look under his mattress for monies

Wrong, try again............:D

oldyouth

thelordofcheese wrote: »

yeah..... that's not being part of the problem at all.

In the slightest.

You asked for the link between BOI Life and where the economy is today and I provided my thoughts on it. I can't quite follow your rebuttle

thelordofcheese

Lexus1976 wrote: »

Where are you getting your figures from? Judging by the report below 2008 figures, BOI Life was down 27% compared to Retail up 3% and Capital Markets up 21%

Bank of Ireland Life delivered PBT of €108 million, 27% lower than the prior year, primarily due to the impact of a negative investment variance of €50 million.

Retail Republic of Ireland delivered PBT growth of 3% to €716 million in an increasingly challenging economic environment. BoI says that strong cost containment was a key contributor to significant efficiency gains. Profits have been impacted by a higher impairment loss charge reflecting the slowdown in the economy.

The Capital Markets Division PBT increased by 21% to €651 million, excluding the trading impact of the Davy disposal. Corporate Banking increased PBT by 13% delivering strong lending volume growth across portfolios and geographies, improved margins and "continuing excellent asset quality," while lobal Markets delivered "an excellent performance in volatile trading conditions with a PBT increase of 54%."

You are actually spot on, my apologies.

I have no idea who i was thinking of, goldman-sachs maybe?

Though if BOI life, which makes pensions work by virtue of investing that money can still turn a profit after the world economy fell over and puked on itself, that's still impressive.

tech77

MikeC101 wrote: »

Yup, anyone pointing out the mistakes in your posts must be a banker.

No just, y'know, someone pointing out the errors you've made.

Surely he's just using the term "bankers" euphemistically.
Cockney rhyming slang and all that.

Stark

RoadKillTs wrote: »

The union says the group of staff involved, most of whom are on salaries of less than €30,000, have taken a decrease in salary of 12 per cent this year due to the non-payment of company-related performance payments.

Link

Hmm, I wonder were they paying any attention whatsoever to their company's "performance" over the past year. Companies are under no obligation to pay performance bonuses to their employees.