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Bonus Watch 2011

Allied Irish Banks (AIB) denied that it will soon pay 40 million euros in bonuses to its employees, The Irish Independent reported on Jan. 28.

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This news comes even though Labour Party finance spokesperson Joan Burton had recently said the the bank was "committed" to paying these bonuses, the paper reported.

AIB said in statement that it wasn't making "any such payments," reported The Irish Independent.

The Irish Independent said more than 2,000 AIB staff were eligible for bonuses connected to work carried out in 2008, but haven't received them due to widespread controversy over the incentives. Some employees have been seeking legal action on the matter.

The payout of these bonuses have been controversial given AIB's receipt of 3.7 billion euros in state aid during the banking crisis last year; Allied Irish Banks is now essentially a government-owned entity.
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