Ruairi Quinn (Dublin South East, Labour)

We all extend our sympathy to those directly affected by this morning's announcement. On this island Ulster Bank employs approximately 6,000 people, 900 of whom are affected by this announcement. Of those affected, we understand 650 are in the Republic of Ireland. The announcement has come at the end of much speculation and there is now a degree of certainty, although none of us might like this.

Regarding skill sets, the Deputy has noted that Ulster Bank is not a covered institution; it is owned by a British parent company. We do not know the profile of those likely to lose their jobs, but there are vacancies in the information technology sector. Members may have heard the chief executive of IDA Ireland, Mr. Barry O'Leary, say on radio recently that there were approximately 1,000 jobs that could be filled if the right skill sets were available. If persons employed in the banking sector work in the area of information technology, they already have high skill levels. We are putting in place a series of measures to upgrade these skills and reorient such persons to areas in which there are job opportunities.

The Deputy has asked if there have been discussions involving the Minister. I am not entirely sure about that and will revert to the Deputy with the necessary information. I know management in Ulster Bank has, in the first instance and as is right and proper, spoken to representatives of the workers affected, including the IBOA. We await the outcome of the discussions.

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