The head of the union representing staff in the finance sector expressed fears that more than 1,000 employees at Irish Bank Resolution Corporation would become "collateral damage" as the Government seeks to secure a deal on the country's bank debt. Irish Bank Officials' Association general secretary Larry Broderick said he was seeking an "urgent" meeting with Minister for Finance Michael Noonan as well as the bank's liquidators, KPMG.
Mr Noonan told the Dáil last night that all staff at IBRC were being made redundant with immediate effect. However, he said many would be re-employed for a period by the liquidator.
Earlier, Mr Broderick said: "We appreciate the main focus of attention will be on the potential impact on the promissory note issue. However, employees feared "they may be overlooked completely or at best regarded as collateral damage".
