Bank of Ireland sign HP outsourcing contract

Bank of Ireland and Hewlett-Packard have today announced that they have signed a $600m (€499.73m) contract for IT outsourcing Services.

The seven-year contract, one of the largest outsourcing deals signed in Ireland, includes managed services, consulting and integration services, and customer support services.

Commenting on the deal Bank of Ireland's information officer, Mr Cyril Dunne, outlined why the HP bid was selected: "We chose HP because of its proven managed services capability, its presence as a large IT services provider in Ireland and its attractive plan for the transfer and subsequent welfare of Bank of Ireland's IT staff."

Approximately 500 employees are set to transfer from the bank to HP as part of the contract.

The deal had been held up because of a dispute with the Irish Bank Officials Association, whose members staged a 24-hour strike in August.

The dispute was resolved after the staff being transferred received a guarantee of job security for five years and a €5,000 payment each.