IRISH LIFE has instructed its sales staff to finalise their choice of new positions offered under a reorganisation plan.

The company has written to its 74 sales managers warning that old staff structures have now ceased to exist and that the new plan will come into effect next week.

But yesterday, the company and the MSF union, which represents 90 per cent of the staff at Irish Life, met in Cork under the auspices of the Labour Commission.

The meeting was in session until late last night and afterwards Irish Life spokesman, Mr Ray Gordon, said both sides agreed to refer compensation arrangements for sales managers who move to non-managerial roles to the Labour Court for arbitration.

Similar discussions will be held to discuss the new managerial arrangements.

It is hoped that both of these developments will take place over the next 10 days.

The company had requested that 30 of its sales managers immediately either accept new positions, or opt for early retirement if they are over 50.

Irish Life had requested all of its sales staff to meet the company's regional managers today, to complete its restructuring plan for that side of its life assurance business.

Under the new reorganisation, Irish Life intends to reduce the number of sales managers from 74 to 45. The company has already selected the 45 employees it wishes to retain and has offered various packages to the others.

The company has offered them the choice of accepting a personal finance managers role, guaranteeing them the same basic salary and has undertaken to ensure that it is possible for them to continue to earn the same level of commission.

But many of the sales managers see this as a demotion.

A package has also been offered to allow managers to become self. employed agents for the company, providing financial assistance over a number of years.

Sales managers over 50 also have to option to accept an early retirement package.

None of Irish Life's sales staff have accepted the deal yet.