Published: Wednesday, 3rd March, 2010 6:00pm
Postbank closure leaves doubt over future of 170 Athlone jobs
by Adrian Cusack
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EmailThe future of approximately 170 jobs in Athlone hangs in the balance after the announcement that Postbank Ireland is to close by the end of this year.
The bank - a joint venture between An Post and European bank BNP Paribas Fortis - has its Irish headquarters in Dublin but its customer support centre is located at the Athlone Business Park on the Dublin Road.
Approximately 170 staff have been employed there and a spokesperson said there was a substantial crossover of staff working on behalf of both Postbank and its insurance partner, One Direct.
The company stated that over the coming weeks and months it would be working to preserve as many jobs, and as many aspects of the Postbank business, as possible.
Ian McArdle of the Communications Workers Union (CWU) said One Direct's staff officially became Postbank staff following the commencement of the new venture.
He said the CWU would discuss the future of jobs at the company at a meeting it would hold in Athlone's Creggan Court Hotel this evening (Wednesday).
The CWU is then due to hold its first formal meeting with Postbank management to discuss the situation on Thursday.
Referring to the One Direct business, he said "There's a sound business function there which was operational, functional and viable prior to Postbank being established and I don't see why it shouldn't still be the case today." He added that the CWU would be making every effort to minimise redundancies as a result of the Postbank announcement.
Last Friday in a statement, the company said its shareholders had decided to discontinue the Postbank venture and that its management had been mandated to prepare a plan for the winding down of the bank.
The Government characterised Postbank's closure as part of a natural shrinking of Ireland's financial sector.
However Mr McArdle criticised the Finance Minister, saying: "Sadly Mr Lenihan seems to have changed his tune. Not so long ago he said that no bank should be allowed to fail but now it appears Postbank will be allowed to fail, unless of course something can be done to rescue it and we would be fully supportive of any effort."
