Bank officials insist frontline members' salaries cannot be cut

on 13/03/2013 10:18:24

The Irish Bank Officials Association has said the salaries of frontline bank officials cannot be cut, after the publication yesterday of the Mercer Report.

The report found that average salaries at Irish banks had risen since 2008.

In light of the report, Finance Minister Michael Noonan ordered the bailed-out banks to cut their pay bills by between 6% and 10%.

Larry Broderick of the IBOA said staff had already made sacrifices and any cuts should be at a senior level.

"The reality is our members have cut their salaries significantly and thousands have lost their jobs," he said.

"If the Government wants to rebuild the industry, they need staff and they need to motivate them…they need to recognise the sacrifices they have already made."