AIB redundancy deal to be revealed this month

AIB’s 12,500 Irish staff will hear within the next month the details of the redundancy packages to be offered to as many as 2,000 exiting staff, chief executive David Duffy told staff yesterday.

The finance workers’ union, the IBOA, have been pressing AIB and the Department of Finance to facilitate meaningful engagement with the union on the restructuring of the bank and a number of outstanding issues affecting various grades.

“Staff in AIB have been living in the shadow of redundancy for a long time now. They deserve clarity about their future,” said IBOA general secretary Larry Broderick last month.

In an email to staff yesterday, Mr Duffy said he is aware the long wait for the negotiation process on severance terms to conclude has “fuelled considerable speculation and understandable impatience” among staff.

“We are not yet in a position to make an announcement but I believe we are now close to reaching agreement. We are working to finalise terms with the Department of Finance and discussing issues with the IBOA.”

Mr Duffy said he hopes to have the “final issues resolved soon” and promised to tell staff “in detail within the next month”.