Niall Collins (Limerick, Fianna Fail)
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Question 57: To ask the Minister for Finance the discussions he has had with the Irish Bank Officials Association regarding the ongoing job losses in the banking sector arising from the restructuring process and if he has given consideration to a specific employment action plan for employees in the sector who lose their jobs. [18567/11]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will appreciate that it is an inevitable, but unfortunate, consequence of the necessary restructuring of the banking system that job losses will arise. Essentially the banks will be smaller operations than previously with the focus being on the creation of the two universal full-service pillar banks with a more domestic remit and a restructured Irish Life & Permanent. My officials have had a preliminary engagement with the Irish Bank Officials Association on the overall picture. I have emphasised the necessity to treat all stakeholders in the process with fairness and integrity mindful of the prevailing challenging economic circumstances facing the banks and the country.

I have set up a task force consisting of my Department and representatives of the directly involved covered institutions to progress the matter. Within the parameters of these discussions the issue of specific employment action plan for employees will be considered.