GVM’S Richard Ryan said there was a reluctance from farmers to put land up for sale in 2020 due to Covid. However, this year that hesitancy has dissipated.
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The Financial Services Union (FSU) has called on KBC Bank Ireland and Bank of Ireland to clarify whether employees at the Belgian-owned bank will be able to transfer as it prepares to sell its â¬9 billion of performing loans to the Stateâs largest bank.
Neither lender has provided confirmation as to whether so-called Transfer of Undertakings (Protection of Employment) regulations, or TUPE, allowing employees to move on existing terms under a business or assets sale, will apply to the planned disposal of KBC Bank Ireland loans and deposits to Bank of Ireland.
While KBC Bank Ireland, which has about 1,300 employees, does not recognise unions, FSU general secretary John OâConnell said that a âsubstantial amountâ of the bankâs staff were members of his organisation.
FSU seeks clarity for staff over KBC proposals
Updated / Tuesday, 20 Apr 2021
17:58
Business Editor
The Financial Services Union (FSU) has reiterated its call for KBC Bank Ireland to clarify whether its staff would be able to transfer with loan assets and liabilities if it completes a deal to sell them to Bank of Ireland.
It follows a virtual meeting between the bank and around 400 KBC staff today at which the question of whether a memorandum of understanding (MoU) signed by both lenders includes a commitment for staff to transfer under the so-called TUPE legislation. The large turnout of KBC staff at today s meeting is a clear indication of the frustration, fear and confusion that staff are feeling around this announcement, said John O’Connell, General Secretary of the FSU.
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