Thursday 8 December 2016

AIB boss says staff must be 'patient' for job cuts news

Published 28/01/2011 | 05:00

AIB boss David Hodgkinson has asked staff to be "patient" for news about job losses and stressed that any cuts will be implemented on a "phased" basis and not immediately.

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The comments came in a group-wide email sent earlier this week, where Mr Hodgkinson also hinted that the bank's new leadership team could come from existing staffers.

Former HSBC executive Mr Hodgkinson took the helm at the embattled bank when he became executive chairman in late October following the abrupt departure of the banks' former bosses.

Since then, much of his time has been taken up in a broad-sweeping review of AIB's operations, which could yield more than 1,000 job cuts.

Redundancy package

Mr Hodgkinson said he appreciated that staff wanted to know "exactly how many jobs will be cut, where the cuts will be made, if there will be a redundancy package and what it will look like".

He stressed, however, that AIB would be unable to provide answers to those questions until it had completed the wider review of its operations.

He added that while the "extent to which we need to restructure" meant there "will be job cuts", a large amount of "remedial work" would have to be done.

"Therefore it is likely that any job losses, although signalled early, will be brought about on a phased basis throughout the organisation," he stressed.

Irish Independent

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