The Central Bank of Ireland has announced the launch of a voluntary severance scheme as part of organisational changes expected to reduce the number of roles by around 120–140. The scheme supports an existing programme targeting a EUR 75 million reduction in the trajectory of projected expenditure to 2030, including EUR 26 million in pay savings. Most of the expenditure reduction will come from measures other than pay, including targeted information technology investment, lower consultancy and contractor spending, and other efficiency initiatives. The pay savings, previously communicated to staff, represent an 8% reduction in projected pay expenditure for 2030. The severance scheme will follow standard public service conditions, and engagement with staff and their representatives has begun. Eligibility, terms and application details will be communicated directly to staff.
Central Bank of Ireland launches voluntary severance scheme as part of planned reduction of around 120–140 roles
The Central Bank of Ireland has launched a voluntary severance scheme to support organisational changes expected to reduce roles by around 120–140. An existing programme targets a EUR 75 million reduction in projected expenditure to 2030, mainly through measures other than pay. Pay savings will contribute EUR 26 million, equivalent to 8% of projected 2030 pay expenditure.