Bloomberg News

Allied Irish Banks Says ‘Close’ to Accord on Redundancy Terms

February 13, 2012

Feb. 10 (Bloomberg) -- Allied Irish Banks Plc Chief Executive Officer David Duffy said the lender is close to finanalizing plans for its severance package.

“I am aware that the long wait for the negotiation process on severance terms to conclude has fuelled considerable speculation and understandable impatience among many of you,” the Dublin-based bank said in an e-mail to staff obtained by Bloomberg News. “I hope to have the final issues resolved soon and expect to be able to communicate with you all in detail within the next month. ‘’

The e-mail was confirmed by Niamh Hennessy, a spokeswoman for the bank. Allied Irish, the country’s biggest government- controlled lender, said in April it would eliminate more than 2,000 jobs.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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