About 4,000 jobs are expected to be lost in the financial sector the general secretary of the Irish Bank Officials Association (IBOA) Larry Broderick said today.
Mr Broderick said he expects the jobs to go in the next six months.
This comes on the back of 6,000 jobs already lost in sector over the last 18 months.
Mr Broderick said the IBOA is currently in discussions with Irish and foreign-owned banks over restructuring in the industry.
Speaking to RTÉ's Morning Ireland he said: "It's very clear what's emerging is the banks are seriously mismanaged…our members will pay the ultimate sacrifice and our job is to protect as many members as possible.
“If there is going to be redundancies let it be on a voluntary basis.”
Mr Broderick said there are “huge rumours” surrounding the restructuring programme at AIB but he said he expects significant numbers to be affected.
He urged the bank not to sell off its First Trust and UK operations as they are “very valuable assets” that have a role to play in jobs protection into the future.
Mr Broderick added that job opportunities are being created in the National Asset Management Agency.