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C.I.E Cost Recovery Negotiations

23 September 2014

TSSA had a meeting with CIE management Monday 22 September to restart negotiations around a cost recovery program.

 

CIE management reiterated their view that they need to make savings of €500,000 annually to alleviate the deterioration in financial performance, resulting from a reduction in revenue exceeding savings already generated in payroll and non-payroll costs.

CIE management confirmed that they view the best way to achieve these savings is by foregoing of gross pay for a period of 25 months as listed below:

Foregoing of Gross Pay

 

Up to €56,000.00 a foregoing gross pay of 1.7% of basic pay.

Between €56,000.00 and up to €61,999.00 a foregoing gross pay of 2.2% of basic pay

Between €62,000.00 and up to €74,999.00 a foregoing gross pay of 3.3% of basic pay

Between €75,000.00 and up to €79,999.00 a foregoing gross pay of 3.6% of basic pay

Between €80,000.00 and up to €94,999.00 a foregoing gross pay of 4.1% of basic pay

Between €95,000.00 and up to €99,999.00 a foregoing gross pay of 5.1% of basic pay

Over €100,000 a forgoing of gross pay of 6.1% of basic pay

We believe that it is important to explore other avenues to see if savings can be achieved particularly in non-payroll costs.

We have requested further information from the company before moving forward. In particular we have requested the following:

· Budget plan for the next 5 years

· Numbers of staff in each grade and the associated pay bands

· Numbers of contract staff

· Break down of third party payments for outside contractors/services

It is important that we put all information under close scrutiny so we have a clear and accurate picture before continuing with negotiations.

Our next meeting is schedule for 8 October. We will continue to keep members updated after the next meeting.

 

 

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