Bank of Ireland IT staff have voted to end their long-running dispute with management after agreeing to improved terms and conditions over the outsourcing of IT functions to Hewlett-Packard.
The resolution of the dispute, which had provoked a 24-hour stoppage by IT staff last month and threatened to derail the bank's outsourcing plans, follows the intervention of the independent arbiter and chief executive of the Irish Labour Relations Commission, Kieran Mulvey.
In a brief statement, the bank says it is moving forward to complete due diligence and sign-off on the seven-year, EUR600 million HP deal. "The group welcomes this acceptance and are pleased that this matter has been resolved. We now look forward to resuming full engagement with all in-scope employees and with HP and Esat/BT as we progress to fully implement the terms of Mr Mulvey's recommendations."
The proposals include a one-off payment of €5,500 and job security for two years for the 200 staff who are expected to transfer to HP, with an option for redeployment within the bank for five years after that. Affected staff will also keep pensions rights and other benefits.
Union officials had threatened the bank with "total war" and promised to cripple its operations with further strike action if the new deal had been rejected.