Bank union to reject projected AIB redundancy settlement

Finance trade union IBOA has said it will not accept an attempt to get rid of 2,000 or more staff at AIB on redundancy terms of five weeks’ pay per year of service.

It is now almost a year since the bank announced it intended to make 2,000 of its 12,000 staff redundant.

There has been speculation that the total may even be higher, as it has acquired 300 staff from Anglo and 600 from EBS.