BOSI - Job losses 750

[justreadin]

Seven minutes to swing the thread to Public Sector bashing. Jesus.

Well are we to expect a National day of action from the PS unions in solidarity with the 750 members who lost their jobs?

After all there were only a few air traffic controllers 'suspended' and the airports shut down...

[CorkHurler]

The risk is that they pull out of the country completely. I doubt they are doing much new business at the moment, just running down what they have. If they were a stand alone bank and not backed by Lloyds / UK govt they would be gone a long time ago.

[Digout]

Its a real sign of the state of the country when a bank decides to leg it.

[Schomberg]

whats does this mean for current account and mortgage holders with Halifax/BoS? start looking for someone else or will Halifax keep servicing current accounts?

[kerrynorth]

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

I think your average wage is way too high. Its the branch network staff that are gone - not the best paid in the banking sector. Say an average of €30k paying an average say €5k in PAYE and PRSI that is €3.75million + average social welfare per person of circa €12k = €12.75million loss to the exchequer. Round it up for those that may qualify for medical card (which is only about €200/head btw) and mortgage/rent supplement etc - give it a round €15million. Plus you will of course have to add on the general loss of economic activity with the branch closures from VAT receipts income from rents and those doing business with BOSI to get the full economic cost.

[goosebump]

Halifax BOSI pulling out of Ireland, 750 jobs lost | Newstalk - Ireland's National Independent Talk Radio Broadcaster


If there was a future for banking in Ireland would they have stayed ?

Seems drastic.

Feel sorry for the 750 staff that had good wages & pensions.

Devastation

Seems strange.

I can't understand why any bank would want to pull out of Ireland. Its not as if banks and their executives are the subject of an ongoing media witch hunt, or the general populace is prone to blame every single shortcoming in their lives on banks.

What with all the positive publicity that we've generated about banks in the last 12 months, you'd expect that Ireland would be the location of choice for every bank in the world.

I don't know about the rest of you, but I'm stumped.

[diablo]

whats does this mean for current account and mortgage holders with Halifax/BoS? start looking for someone else or will Halifax keep servicing current accounts?

They'll probably sell the current account and mortgage business to another bank. It'll be up to the account holders to decide if they want to stay with their new banker.

[hammer]

I think your average wage is way too high. Its the branch network staff that are gone - not the best paid in the banking sector.

There would be a few well paid managers & asssitance managers as well I would presume, but I get your point. Somewhere closer to €40k maybe.

Ciao

[sauntersplash]

Did we not already hear about them pulling out around six months ago?

[HarshBuzz]

Seems strange.

I can't understand why any bank would want to pull out of Ireland. Its not as if banks and their executives are the subject of an ongoing media witch hunt, or the general populace is prone to blame every single shortcoming in their lives on banks.

What with all the positive publicity that we've generated about banks in the last 12 months, you'd expect that Ireland would be the location of choice for every bank in the world.

I don't know about the rest of you, but I'm stumped.

nice try

negative publicity is about the last reason that BoSI are pulling out