FSU & AIB AGREE TERMS FOR LIMITED VS IN REPUBLIC OF IRELAND

Issued : 7 October 2016

AIB Bank

FRIDAY 7TH OCTOBER


FSU & AIB AGREE TERMS FOR LIMITED VS IN REPUBLIC OF IRELAND


AIB has announced job losses across its retail and business banking network as a result of a new local markets structure.


The Financial Services Union (FSU) has secured that any job losses will be on a voluntary basis only, under the agreed ‘Foley’ terms which guarantees a minimum of four weeks’ pay per each year of service. The exact number is not yet agreed but will be limited to no more than 150.


The Union has raised concerns about AIB’s proposals, particularly in light of current staff shortages across the Bank’s network. The Union is also concerned that, despite the Bank’s return to profitability, it is still seeking reductions in staffing numbers.


Billy Barrett, Senior Industrial Relations Officer with the FSU, said:


“While the redundancies are being carried out under agreed terms, the FSU is concerned about the future structure of AIB and the impact on staffing levels across the network. We have sought assurances from the Bank that the current round of redundancies will not add to the already increased workload and stress on members in AIB.”


In addition, FSU has raised issues about AIB’s focus on offering redundancy to long-serving staff which is leading to a steady decline in the availability of experienced bankers. The Union has also expressed a concern that promotional opportunities for remaining staff will be limited or non-existent.

ENDS