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State Banking Sector

Dáil Éireann Debate, Wednesday - 18 April 2012

Wednesday, 18 April 2012

Questions (152, 153, 154, 155)

Joanna Tuffy

Question:

140 Deputy Joanna Tuffy asked the Minister for Finance with regard to an announcement by AIB in April 2011 regarding future job losses and to subsequent discussions with AIB regarding a redundancy package for AIB employees, when he expects these discussion to be finalised; and if he will make a statement on the matter. [18137/12]

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Éamon Ó Cuív

Question:

199 Deputy Éamon Ó Cuív asked the Minister for Finance the number of persons who are to be made redundant from AIB; if these redundancies will be voluntary or compulsory; the terms of redundancy on offer; and if he will make a statement on the matter. [19032/12]

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Gerry Adams

Question:

202 Deputy Gerry Adams asked the Minister for Finance the level of contact he has had with AIB in relation to future redundancies at the bank; the number of such redundancies and the redundancy package being made available to staff; his views on whether ordinary bank officials would be the ones to pay for the reckless behaviour of senior executives many of whom have already left the bank with generous golden handshakes; and if he will make a statement on the matter. [19083/12]

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Gerry Adams

Question:

204 Deputy Gerry Adams asked the Minister for Finance if early retirement schemes will form part of the redundancy packages at AIB as was the case recently with the Health Service Executive; if the AIB pension scheme is in a fit state to cover early retirements; and if he will make a statement on the matter. [19085/12]

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Written answers

I propose to take Questions Nos. 140, 199, 202 and 204 together.

The Deputies will be aware that AIB, as part of its announcement of 8th March 2012 of a voluntary severance programme, stated "as required under the bank's partnership principles with IBOA, a consultation process will begin immediately with trade union representatives." It went on to state that "AIB will not be making any further public comment until the consultation process with staff representatives is concluded." As these discussions are continuing, with the assistance of the Labour Relations Commissions, the Deputies will appreciate that it would not be appropriate for me to comment directly on some of the issues raised in these questions which form part of these negotiations.

In any of my public pronouncements on the issue, I have been at pains to point out that all parties involved in this most sensitive of issues for individuals need to be treated with utmost consideration and respect and this most certainly includes the State which have contributed in excess of €20bn to the bank.

It is deeply regrettable, for all concerned, that the proposed action of shedding some 2,500 jobs has had to be taken but it is an inevitable consequence of the necessary restructuring of the banking system to render it fit to better serve personal and business customers throughout the economy.

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