Ireland Tells Banks to Freeze Severance Packages, Post Reports
Ireland’s finance ministry last month told state-supported banks to freeze generous redundancy packages, the Sunday Business Post reported, without saying where it obtained the information.
The ministry wants redundancy offers for bank employees to include terms of three or four weeks pay per year of service, the Post said. Most voluntary bank redundancies to date have offered six weeks per year, and a statutory entitlement of two weeks, the report said.
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