3 December 2022 The Irish Film & Television Network
     
RTE Network Staff To Reject Deal
25 Oct 2001 :
As reported in Business and Finance this week, the majority of staff at RTE's network division, which is in the process of being auctioned off, is likely to reject a cash and share offer to compensate them for their loss of semi-state status, when they meet management at an internal industrial relations tribunal later today, reports Business & Finance magazine.

Most of the 60 employees concerned are understood to be unhappy with the terms on offer, which include once-off payments of 1,000 per year of service rendered and 3pc of basic pay for the each year they had still left to serve before scheduled retirement at RTE. Furthermore staff will be offered share options in the new company if they remain there for more than three years. RTE will retain a 28pc stake in the network company after the majority stake is sold.

When the sale of the network was first mooted, staff had sought an ESOP or an immediate shareholding in the network company, in exchange for the loss of their status and changes in work practice. They had retained accountants Grant Farrell Sparks to devise an ESOP plan and had lobbied the Minister for Arts, Culture and the Gaeltacht Sile de Valera to implement one.

"These proposals have been on the table for a while and now it comes down to negotiations. A number of the guys who have permanent and pensionable jobs at RTE are not happy and will push to have the deal rejected," a source told Business & Finance.

According to the source if these staff are not happy they may not move across to the new tower company and stay in RTE.



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