Employees ‘ready to strike’ over cuts

A “substantial” majority of AIB employees are prepared to go on strike if management imposes its planned cost-cutting measures, according to the bank workers’ union IBOA.

Earlier this month, AIB announced wide-reaching plans to cut costs — which would see 2,500 jobs shed from its workforce, and remaining employees taking a two-year pay freeze and switching to a defined contribution pension scheme.

The plan will also see top executives’ pay cut by 15%, other executives take a 10% cut, and senior managers take a 7.5% wage reduction.