Catherine Ardagh (Fianna Fail) | Oireachtas source

I would like to raise my disappointment at the reconfirmation by AIB that it plans to reduce its workforce by 1,500 people by 2023. Not only is this hugely disappointing for a huge amount of staff but it is also disappointing for people who use AIB's banking services locally. The reduction is not only of people but also of branches. It is closing down its Crumlin Cross branch and moving it to Crumlin Road, to the detriment of many elderly people who would use AIB's face-to-face services on a daily basis.

What is most alarming about this is that the bank seems to forget that the State bailed it out to the tune of nearly €20 billion when it was in a huge crisis. The State currently owns approximately 70% of the bank. Therefore, this announcement goes against the theme and the sentiment we are all living through that we are in this together. It is the wrong time to make these announcements and it is unfair on the people working in AIB. We should have a debate in this House on the matter. The Financial Services Union is saying that the timing is wrong. There has been little talk or consultation on the nature of the redundancies. Due to the fact that the State has such a large stake in the bank, it is paramount that this matter be debated in the House.