Éamon Ó Cuív (Galway West, Fianna Fail)

It was announced on the 10 a.m. news that 650 jobs would be lost at Ulster Bank in this jurisdiction. This is a nervous time for the employees and a very serious issue. I appreciate that Ulster Bank is not covered by the State, but has it entered into discussions with the relevant Ministers on the redundancies announced? The Irish Bank Officials Association, IBOA, is predicting significant job losses across the sector, with a figure of 5,000 being mentioned. That only relates to the banking sector; there is also the wider insurance market and so on. What is the Government doing to protect jobs, as far as possible, in the relevant sectors? What are the plans to assist workers who will be made redundant in order that they can be retrained and secure alternative employment? It is important that the Government give information on the jobs that will be affected. Are we talking about back or front office or retail staff? What grades will be involved? Have discussions on job losses taken place with the covered institutions such as Bank of Ireland and AIB? What information does the Government have in this regard? There could be a cumulative effect, as if more workers are let go, it will become more difficult to absorb them into expanding financial services.

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