AIB to give voluntary leavers four weeks’ pay

Staff at AIB who choose to be among the 2,500 voluntary departures are likely to be offered a redundancy package of four weeks’ pay per year of service, inclusive of statutory.

Kevin Foley, director of conciliation at the Labour Relations Commission, is not expected to announce his recommendation on the terms on offer until tomorrow or Friday.

A consultation process between AIB and the finance union IBOA on the bank’s restructuring and severance programme, under Mr Foley’s mediation ended last Friday evening.