Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Allied Irish Bank (AIB) is seeking 200 voluntary redundancies nationwide as part of its ongoing restructuring. The job reduction measures are expected to be completed by 18 December 2019. They are driven by resource saving concerns in period of low-interest rates and falling profits. The bank has offered 3 or 4 weeks' pay compensation per year of service, depending on the length of workers' tenure, plus statutory redundancy. AIB employees have few weeks to consider applying for redundancy.
Allied Irish Bank currently employs around 9,800 people, which is a significant reduction from the 25,000 employees before the economic crisis of 2009. In 2012 the bank dismissed 2,000 workers.
Eurofound (2019), Allied Irish Bank (AIB), Internal restructuring in Ireland, factsheet number 98796, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98796.
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