AIB is expected to offer employees redundancy terms of five weeks pay per year of service in its bid to reduce headcount at the bank by 2,000 people, according to industry sources.
A deal has not yet been formally signed off between the nationalised bank and the Department of Finance, but sources familiar with the terms of negotiations said the likely buy-out package would settle at three weeks pay plus the statutory two weeks.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team