Bank of Ireland expects to reach agreement with unions about its cost-cutting plan by the end of May, the bank's chief executive said today.
Bank of Ireland intends to cut 2,100 jobs across its network at a cost of €210 million. The bank aims to trim €120 million off costs over the next four years.
A joint statement from Bank of Ireland and the Irish Bank Officials Association (IBOA) issued earlier this week described meetings between the parties as "positive and constructive", and a positive outcome to the negotiations is anticipated within an agreed framework.
Speaking at the release of the group's annual results today, Bank of Ireland chief executive Brian Goggin said the bank is "fully committed" to achieving agreement by the end of May.
Though he declined from specifying where heaviest cuts might come, Mr Goggin insisted customer service quality would not be compromised and indicated that back office operations rather than customer-facing branch jobs would be the most vulnerable.
Mr Kieran Mulvey, chief executive of the Labour Relations Commission, has been leading the negotiations on behalf of the IBOA and other unions at the bank.
