Business Irish

Sunday 22 April 2018

AIB staff face further delays on ruling over redundancy

Laura Noonan

Laura Noonan

THE Labour Relations Commission (LRC) has signalled that it could need another fortnight to make a recommendation on AIB's massive redundancy scheme.

The LRC's Kevin Foley had hoped to deliver his verdict on redundancy packages and early-retirement deals a week ago, following the bank's early April announcement that it would lay off 2,500 staff.

Sources last night confirmed that Mr Foley had written to the bank and trade union the IBOA in recent days advising them that he needed more time to "explore all avenues to ensure that my proposals can address the needs of the bank, the staff and the union".

Complex issue

Describing the bank's restructuring as a "very complex issue", Mr Foley said he appreciated "that a further delay is inconvenient -- particularly for staff who are anxious for clarity".

"I ask for your forbearance, given the crucial importance of the issue for all concerned," he went on to say, adding that he "hopes" to finalise his recommendation "within the next two weeks".

The recommendations will then be put to trade unions and the bank, who can choose to accept or reject them. It is understood that the bank and union remain at odds over the size of redundancy payments, the terms of early retirement and whether all redundancies will be voluntary.

Irish Independent

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