BOSI - Job losses 750

[Mitsui2]

Your "logic" is deeply flawed. And I'm not entriely what point you think you are making.

What exactly does this have to do with Public Sector pay?

Besides, PS pay was last season's ordained scapegoat. Minimum wage earners seem to be next for demonisation.

[kerrynorth]

Can't say it is a surprise. In fact it was signaled a long time ago. I'd imagine there will liittle or no redundancy in most cases as most branches have not been running more than 2 years. Bad headlines from Ireland going abroad that a whole retail bank is upping sticks and getting out of Dodge.

[hammer]

I`m amazed also that after this news broke the share prices of BOI / AIB fell

Surely less competition would be good for the main banks ?

[Schomberg]

what does this mean for those of us with Halifax current accounts and mortgages with BoS? Have to say I found banking with Halifax excellent - having switched from AIB about six months ago. Great service, great opening hours and the convenience of the visa debit card is something I'll miss a lot...

[cyberianpan]

750 job losses

Let's assume that Welfare gives them a third of a drop in money

That means 500 job losses still have to be "covered" (tax loss + welfare loss).

A method of covering that would be to cut the pay of 10,000 public servants by 5%...

These continuing job losses put huge strain on public finances - and private sector job losses will mean public sector pay cuts

cYp

[sauntersplash]

Besides, PS pay was last season's ordained scapegoat. Minimum wage earners seem to be next for demonisation.

Now that you mention it. I seen a MW (new moniker) beating a child not so long ago and he was wearing Armani shoes.

[Sync]

I`m amazed also that after this news broke the share prices of BOI / AIB fell

Surely less competition would be good for the main banks ?

Or that international banks see no real short-mid term future here, and those than can get out are doing so.

[kerrynorth]

I`m amazed also that after this news broke the share prices of BOI / AIB fell

Surely less competition would be good for the main banks ?

I suppose the sentiment might be if a whole bank is pulling out of Ireland what does that say for the banking environment there?

[hammer]

Paye, prsi, levies and employers prsi on the 750 jobs ( average wage €50,000 ) is €19,043

+ average social welfare & medical card €12,000 minimum

750 X ( 19,043 + 12,000 ) = €23 MILLION

Peanuts to this Government when you consider NAMA €54,000 MILLION

[Digout]

Less competition for us consumers.