August 5, 2020
Bank of Ireland must pause cost-cutting plans – Louise O’Reilly TD

Louise OR' ReillySinn Féin spokesperson on Enterprise, Trade, Employment and Workers’ Rights Louise O’Reilly has called on Bank of Ireland to pause cost-cutting plans which aim to axe over 1,400 jobs.

Speaking this afternoon, Teachta O’Reilly said: “The news that Bank of Ireland are aiming to cut over 1,400 jobs in an effort to reduce costs is incredibly worrying for all staff at the bank.

“Job losses on such a scale are harrowing in normal times, but it is even more concerning given the current circumstances.

“Immediately pivoting towards cutting jobs to reduce costs is a very disappointing move from Bank of Ireland, even if it is via voluntary redundancy in the first instance.

“To paraphrase the Financial Services Union (FSU), to ask people to make such a huge and life-changing decision during a pandemic is extremely insensitive.

“Beyond the stress of having to live with this virus, many workers have additional stresses from trying to get children back to school or childcare, possibly dealing with a partner on reduced hours or who has lost their job, to caring for an elderly relative who is cocooning from the virus.

“For Bank of Ireland to then ask workers to consider voluntary redundancy at this confusing and stressful time is incredibly insulting.

“I would encourage Bank of Ireland to pause any redundancy plans and engage with workers and their trade unions in order to allow staff at the bank time to process what is going on, and have the space to come to an informed decision at some stage in the future as to whether taking early retirement or voluntary redundancy is for them.”

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