AIB pay negotiations with union move to WRC

Negotiations between AIB and the Financial Services Union (FSU) on future pay have concluded without agreement but both sides have agreed to refer the matter to the Workplace Relations Commission (WRC).

The union is seeking a general pay increase linked to inflation for all staff ; clarity in relation to proposals to revise pay grades at all levels; and an appeals mechanism for any staff member with concerns over the proposed new pay levels.

AIB, meanwhile,said it is continuously working to “align a simple and efficient structure with a customer first business strategy”. “As part of this, we are simplifying our career structure for employees,” a spokesman said.

FSU senior official Billy Barrett said there remains a "significant gap" between the union and the employer despite a genuine effort on both sides.

Axa raises profit targets in wake of $15 billion XL deal

---

AIB confirms move to sublet Eir’s headquarters in Dublin 8

---

Australian travel insurer establishes Europe HQ in Cork

---

Friday Interview: Billy Kane, chief executive of Finance Ireland

---

“Our strategy for pay and reward differs significantly from management’s current position,” he said.

“There is a widespread level of frustration among staff at the Bank’s over reliance on performance management to decide modest pay increases. The radical revision of grades and pay ranges is also a cause of concern.

“Staff in AIB have been central to the turnaround in the bank’s fortunes. They are proud of this contribution and expect the employer to respond positively to their strategy for pay and reward,” he added.

“AIB looks forward to constructive discussions, including on pay, at the Workplace Relations Commission with a view to reaching a sustainable solution,” the bank’s spokesman said.