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2003

Take-over bid by Royal Bank of Scotland could lead to industrial action at First Active

Date Released: 09 Oct 2003

First Active could be hit by industrial action if assurances on job security and working conditions are not forthcoming in the event of the company's take-over by Royal Bank of Scotland, warned SIPTU's Insurance & Finance Branch Secretary, John Swift.

Mr. Swift said that union members were shocked at the announcement on Monday last that Royal Bank of Scotland has made an €887 million offer for First Active.

"We believe the Royal Bank of Scotland are hostile to trade unions and have already threatened that there could be hundreds of job losses as a result of the integration of certain aspects of their operations," said Mr. Swift.

"We have written to First Active, demanding an immediate written assurance from them that in the event of a take-over by Royal Bank of Scotland, there will be no redundancies and no worsening of our members' terms or conditions of employment.

"In the absence of those assurances, we will have no choice but to ballot for industrial action," concluded Mr. Swift.





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