Bank of Ireland outsources 200 posts
Published 07/03/2014 | 02:30
BANK of Ireland is to cut 200 technology jobs in Dublin following an outsourcing deal with Accenture, the Irish Independent has learned.
Staff were briefed on the bank's decision to award the contract for work currently done by its Group Technology and Change (GTaC) division to the outside firm yesterday.
People whose jobs are affected will be given the option to move across to Accenture, apply for voluntary redundancy or seek redeployment elsewhere in Bank of Ireland, a spokeswoman for the bank said.
The new arrangement is expected to come into effect in June.
Bank of Ireland has set aside €25m to fund redundancies this year, the bank said earlier this week.
Anyone opting for voluntary redundancy receives three weeks' base pay per year of service, plus statutory payments. Payments are capped at the lower of two years' pay or €225,000.
The unit whose function is to be outsourced is involved in activities such as the bank's '365' service. The jobs affected are all based in Dublin.