Sunday 20 October 2019

200 jobs to go at AIB in voluntary severance round

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Shawn Pogatchnik

About 200 positions at AIB are being eliminated in a voluntary severance round, the bank confirmed today.

"AIB is a large, agile organisation which is focused on being simple and efficient, and this is supported by a continual focus on managing costs.

"In line with this, the bank continuously reviews our resourcing requirements, and VS (voluntary severance) is one solution offered to meet these requirements in certain areas," the bank said in a statement.

"The bank is open to considering VS applications from employees in certain areas of the organisation and we have advised the union of that. A temporary hold on recruitment and promotion is in place in line with the bank’s renewed focus on cost discipline." understands that staff in the homes, consumer and distressed loans units are among those targeted. They have been offered severance terms that include three to four weeks’ pay per year of service above the two-week statutory requirement.

Staff in the affected units have until mid-October to apply, with a requirement that they exit employment by December 18.

AIB currently employs about 10,000 staff and contractors.

In July, the bank reported first-half pre-tax profits of €436m, down 43pc from the same period a year before.

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