AIB slammed over redundancy plan

AIB’S plans for 150 voluntary redundancies will cause customers and businesses to suffer, a union has warned.

The bank yesterday announced that the proposed layoffs would take place over the next three years.

It said they were planned in areas where it could 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 in a statement.

It added that the proposed redundancies followed consultation with the Financial Services Union (FSU), and that any layoffs would be under the auspices of existing agreements between the bank and the union.

However, John O’Connell, general secretary of the FSU, described the announcement by AIB of 150 redundancies as short-sighted.

He explained: ‘The future of banking is ever-changing, and because of its importance to the economy it needs to be managed in way that takes account of the requirements of customers, staff, business and communities.’

He added that the move ‘is based solely on their profit margins, and said that there had been ‘no serious dialogue’ about the emergence of artificial intelligence (AI) in the banking sector, and what that might mean for jobs and services.

‘We need an agreed approach to the introduction of AI, and banks should retain current services until that agreement is reached,’ he cautioned.

Billy Barrett, senior industrial relations officer with the FSU, said: ‘Reducing staff numbers by 150 will only result in increased anxiety for remaining staff who are already at breaking point.’

He said the FSU had requested additional information from the bank on the areas that might be affected.