AIB proposes 150 voluntary redundancies

AIB has announced plans for 150 voluntary redundancies over the next three years.

In a statement, the bank said the proposed layoffs are planned in areas where it can increase efficiency and automation or where fewer staff are required given that legacy issues have been largely resolved.

“Our three year strategic plan focuses on serving the bank’s customers, further greening of our loan book and delivering greater operational efficiency,” AIB said.

“We are committed to ensuring services for customers will be maintained at existing levels,” it added.

AIB said the proposed redundancies follow consultation with the Financial Services Union (FSU) and that any layoffs will be under the auspices of existing agreements between the bank and the union.

The FSU described the proposed redundancies as short-sighted and called on Minister for Finance Jack Chambers to immediately reconvene the Banking Forum of relevant stakeholders.

“The announcement today by AIB is based solely on their profit margins,” said John O’Connell, General Secretary of the FSU.

“If we continue to let individual banks manage the future of our banking services we will be left with a continual withdrawal of banking services which will result in consumers and businesses suffering the consequences,” Mr O’Connell said.

Billy Barrett, Senior Industrial Relations Officer with the FSU, said staffing levels at AIB are already at “crisis point”.

“Reducing staff numbers by 150 will only result in increased anxiety for remaining staff who are already at breaking point,” Mr Barret said

“The FSU has requested additional information from the bank on the areas that might be affected,” he added.