AIB boss: Redundancies will be compulsory 'if necessary'
Allied Irish Bank's plan to reduce its workforce by more than 2,000 people over the next two years will include compulsory redundancies if necessary, it was confirmed today.
The Irish Bank Officials Association insisted earlier that any redundancies must be on a voluntary basis, but AIB executive chairman David Hodgkinson admitted that may not be possible.
"We hope to do it, as far as possible, on a voluntary basis, but where we don't succeed on a voluntary [basis], we do have to, I think, reserve the right to go to compulsory if necessary," he said.
AIB reported a loss of €10.4bn in its delayed annual report for 2010 today.
