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No job security guarantee in staff transfers to other banks

THE 450 Anglo Irish Bank and Irish Nationwide staff transferring across to new banks will get "no specific assurance" that their jobs won't be cut as part of the impending overhaul of the banking system.

Yesterday's sale of Anglo and Nationwide's deposit books will see some 210 Anglo staff immediately move to AIB and some 237 Nationwide staff move to Permanent TSB.

Both AIB and Permanent TSB have reassured the workers' trade unions that they will respect all staff's existing terms and conditions and that there will be no break in their service records.

But the Irish Independent understands that neither AIB nor Permanent TSB has given any undertaking that the new staff will be unaffected by the wave of restructuring coming shortly.

AIB is expected to cut thousands of staff when it completes a review of its operations in the coming months, while Permanent TSB is also expected to make some cuts.

In a statement, trade union the IBOA last night criticised the fact that there had not been more consultation with staff before they were transferred to a new employer.

IBOA general secretary Larry Broderick said "positive discussions" between the union and AIB and Permanent TSB had taken place yesterday evening and that the "full protection" of transferring staff had been guaranteed.

Irish Independent