It’s not always good news with a podcast. November 1, 2009
Posted by David in Uncategorized.trackback
There can be an assumption that podcasting is used only as a positive communication tool to promote, sell and endorse. This news story in the irishtimes.com suggests that the Anglo Irish Bank are to announce job cuts via a podcast.
The Headline reads: Redundancy package podcast unlikely to sound appealing
CANTILLON: INSIDE THE WORLD OF BUSINESS: STAFF AT Anglo Irish Bank are expected to get details next week of the job cuts and associated redundancy package currently being negotiated between the bank’s management and the Department of Finance.
Anglo Irish Bank
Rumour has it that chief executive Mike Aynsley will break the news via a podcast to all staff. It’s all very high tech but will not disguise the fact that the bank is expected to shed anywhere between 200 and 500 jobs in a package targeted at staff with short service.
The terms are said to be something in the region of five weeks salary per year in respect of the first two years and then two weeks salary for every year after that.
Presumably it will appeal to younger staff who might be thinking of emigrating or changing career.
It will be interesting to see if it proves tempting for any of the senior management, whose close associations with the previous regime, are causing some discomfort to both the bank itself and also its new owner, the Minister for Finance.
Redundancy payments – generous as they might be – are unlikely, however, to make much of a dent in the debts owed to the bank by some of its top management cadre.
Pat Whelan, the head of the bank’s Irish business, had a loan of about €5 million when it was taken over by the State, while his salary was €650,000.
The executive in charge of Anglo’s UK business, Declan Quilligan, had a loan of about €3.3 million, compared to a salary of €770,000. Anglo’s director of group finance, Matt Moran, had loans of about €2 million while the head of Anglo’s US business, Tony Campbell, had a loan in the region of €5 million. Their salaries are not known.
The bank’s best chance of ensuring this money is repaid may yet be to keep on paying their salaries.
