The managing director of the Irish subsidiary of State Street Corporation has called for 30,000 redundancies in the public sector.
Addressing a conference in Dublin on the Croke Park Agreement, William Slattery said these redundancies were necessary to save money and increase efficiency in the public sector.
He said they should be achieved by a cost-effective voluntary programme.
Mr Slattery also said that any cost savings made under the Croke Park Agreement should not be put towards reversing public sector pay cuts, but should instead be used to reduce the country's deficit.
He said the 30,000 redundancies represented about 10% of the entire public service and would save €2bn for the Exchequer.
State Street is a financial services provider that employs 2,500 people in Ireland.
Minister of State for Public Service Transformation Dara Calleary told the conference that any public money found to have been misspent by the trade unions should be reimbursed.
Mr Calleary said he would not comment specifically on the €2.35m SIPTU training fund that had been spent on 31 trips around the world.
However, he did say that frivolous expenditure or expenditure that could not be justified should not be allowed.
The Croke Park Agreement guarantees there will be no compulsory redundancies or further pay cuts over the next four years in exchange for extensive reform of the public service.
It provides for the reimbursement of pay cuts to public servants from the savings made from those reforms.
Mr Calleary rejected suggestions that progress has been slow to date.
He said that the implementation body charged with overseeing the reforms had met four times since it was set up in June, while every department must submit its proposed changes by next week.
The Minister said no pay cuts would be reimbursed until savings had been made from reforms.
General Secretary of the IMPACT Trade Union Shay Cody said it was imperative that management put forward substantial and meaningful proposals on the implementation of the Croke Park deal.
Speaking on Morning Ireland, Mr Cody said morale among public servants had taken a battering.
He said the great danger was inertia setting-in, with pressure then mounting on public service workers about their pay rates in the future.
