AIB staff may face pay cuts after 2,500 jobs shelved

The 12,500 staff who remain at AIB after the 2,500 job cuts announced yesterday could face possible wage reductions once the dust settles.

Sources within AIB refused to rule out cutting staff wages, closing branches and seeking compulsory redundancies if the bank is unable to achieve the €170m required cost savings under the bank’s latest redundancy programme.

Finance union IBOA general secretary Larry Broderick said AIB was asking the ordinary workers to bear the brunt of the fallout from the bank’s mismanagement.