Dara Calleary (Mayo, Fianna Fail)
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To ask the Minister for Finance if he has sought assurances that employment levels at Irish Life will be protected following its sale to Great-West Lifeco; if an understanding has been reached that there will not be any compulsory redundancies; and if he will make a statement on the matter. [10596/13]

Michael Noonan (Limerick City, Fine Gael)
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I can inform the Deputy that following completion of the sale to Great-West Lifeco that all decisions on employment levels at Irish Life will be a matter for Great-West Lifeco. The Government will, as the Deputy would expect, have no role in any of these decisions. Allen Loney, the CEO of Great-West Lifeco has stated that any job losses that would occur following the acquisition of Irish Life would be on a voluntary basis, that no compulsory redundancies are envisaged and that all staff will be treated fairly. I was particularly taken with Mr. Loney’s comments at the press conference on 19 February 2013 that the company was in Ireland to “create jobs, not to destroy jobs”.