Michael McGrath (Cork South Central, Fianna Fail)
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Question 72: To ask the Minister for Finance the plans he intends to put in place to assist employees of covered institutions who are made redundant as part of the ongoing restructure of the banking sector; and if he will make a statement on the matter. [13434/12]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that Allied Irish Banks announced plans today to shed some 2,500 posts as part of a voluntary severance programme. It is deeply regrettable, for all concerned, that such action has had to be taken but it is an inevitable consequence of the necessary restructuring of the banking system to render it fit to better serve personal and business customers throughout the economy. As for any group of workers whose positions are being made redundant, the services of the State will be available to assist them across a range of issues including employment support services, education and training interventions and income maintenance and money advice. Any such supports will supplement the facilities being put in place by the employer. The exact nature of the supports will be determined by the particular circumstances.