Bank redundancies

Discussion in 'Redundancy, unemployment & jobseekers entitlements' started by Sunshine39, Sep 3, 2018.

  1. Sunshine39

    Sunshine39 Registered User

    Posts:
    5
    Hi all,
    Does anyone have a view on whether the Banks specifically AIB will have further voluntary redundancies, based on the current financial performance, for staff outside of their restructuring units?
    My partner works there and is considering a next move.
    Many thanks
     
  2. rob oyle

    rob oyle Frequent Poster

    Posts:
    521
    (Highly) unlikely at this stage, unless there is a need at local level and it can get approved up the line. Having worked through their staff numbers, property usage, loan books, arrears etc. since the crash, one would expect that things are lined up pretty well now for the years to come.
     
  3. Monbretia

    Monbretia Frequent Poster

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    1,370
    I haven't been in an AIB for years but if they have introduced all the machines they are going to in the branches then I'd imagine they are done in general. UB had a recent round of redundancies as they installing machines in a lot of branches that didn't have them so those branches were targetted for staff reduction.
     
  4. Jim2007

    Jim2007 Frequent Poster

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    1,970
    Generally speaking the banks are on a race to the bottom. They have successfully converted their services into a commodity and when that happens the only discriminating factor is cost. So yes there will be more redundancies in the future, along with restricted pay raises and bonuses. But whether that will be in two, five or ten years is hard to say.

    Trying to build a career in a commodity industry is difficult and rarely works out. After spending almost thirty years in the sector I would no recommend it as a career choice at this stage.
     
  5. RedOnion

    RedOnion Frequent Poster

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    1,679
    Well, BOI are currently going through a VR that's been well covered in the news. Targeted at higher earners primarily.
    AIB don't have as high a cost base, but there's always room to cut costs in an organisation of that size.
    I guess it depends on what your role / area is. Not everyone employed by a bank is 'a banker'.