The Irish Bank Officials’ Association (IBOA) has warned the decision by AIB to sell its Polish unit will come at a "substantial cost" to staff in Ireland and is likely to result in jobs losses at the institution.
The union's general secretary, Larry Broderick, warned that a "significant number" of 'back-office staff' in Ireland are directly involved in providing support to the Polish operation. He said their jobs will be under immediate threat if the sale goes ahead.
The union leader also warned that similar moves by AIB to sell its assets in the USA, Britain and Northern Ireland would pose further threats to staff in Ireland whose jobs are directly linked to these operations.
"AIB is pursuing this asset disposal strategy in an attempt to avoid majority State ownership. Seeking to raise capital is all very well. But this objective should not be pursued to the exclusion of the legitmate
interests of employees, customers and indeed the public at large," Mr Broderick said.
Mr Broderick said once the bank's "jewels in the crown" are sold that AIB will be seen internationally as "little more than a small provincial bank operating in a distressed economy".
He said the union had recently engaged with senior management at AIB and would continue to seek a future "based on the recognition of the legitimate interests of all ot AIB’s stake-holders — employees, customers, the Exchequer and the general public — rather than a narrow focus on the interests of shareholders alone".
