BoI union faces down state over staff cuts

THE union representing thousands of Bank of Ireland staff says its members will stop the bank from getting rid of more than 450 staff here if the Government derails the voluntary severance package on offer.

Last April, as part of an EU restructuring plan, the bank and finance union IBOA agreed to a voluntary severance and early retirement package of six weeks’ pay per year of service, to be on offer for 750 staff. The deal was taken up by 300 staff in the North.

However, before it was accepted by staff south of the border, the Department of Finance ruled the compensation was too much.