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Allied Irish Banks: No bonuses to be paid

Allied Irish Banks: No bonuses to be paid

Allied Irish Banks says it won't award bonuses to its employees following a government threat to withhold state funding if it did.
The debt-hit Irish institution is one of the banks at the center of the financial crisis which has pushed this island nation to the brink of insolvency.
Allied Irish Banks has already absorbed billions in taxpayer cash to cover its losses.
In a statement Monday the bank said it had received a letter from the government threatening to withhold further public money if the bonuses were paid out.
The bank said the government planned to legislate a solution to the problem, although the details of the proposed legislation weren't immediately clear.


Updated : 2021-10-17 13:51 GMT+08:00