Proposals from employment mediator Kieran Mulvey on how staff will participate in Bank of Ireland's restructuring programme have been accepted by Members of the Irish Bank Officials Association.
In a statement today the IBOA said following a vote, "IBOA members voted by a majority to accept Mr Mulvey's recommendation."
The IBOA will be seeking an early meeting with senior Bank management to facilitate the introduction of a 35-hour week, the application of the 6 per cent profit share payment and to ensure that staff wishing to leave the Bank, through voluntary severance or early retirement, are accommodated.
Bank of Ireland recently unveiled a cost-cutting programme which will see 2,100 jobs being lost at the bank leading to an annual reduction in costs of €120 over the next four years.