Hundreds of staff at Irish Life met in Dublin today to decide whether to take industrial action over the sale and break-up of the company.
The UNITE trade union, which represents over 1,000 employees, said that if the meeting agreed to hold a ballot the result will be issued by 26 October.
If staff approve industrial action, it would involve a one-day strike in the first instance.
Workers are concerned about the consequences for them of plans to restructure Irish Life ahead of its probable sale.
The company wants to unilaterally transfer staff to two new joint venture companies: one providing shared services like human resources and IT, and the other to be known as Irish Life Financial Services.
The company has written to UNITE saying that it must be in a position to transfer staff after 31 October because of a High Court order to separate Permanent TSB and Irish Life.
However, staff are concerned that their jobs, terms and conditions might not be protected as they do not know who might buy the company in the future - and describe the proposals as involving them in a "leap off a cliff".
Irish Life has rejected the union's criticisms, saying jobs and conditions will be protected under Transfer of Undertakings legislation.
A spokesman for Irish Life appealed to the UNITE to have the matters in dispute heard by the Labour Court.
"We have agreed procedures for managing disputes such as this but the union is ignoring those procedures by balloting for strike action," the company said.
"We'd appeal to them again to come with us to the Labour Court and let them adjudicate on the issues at hand."
It is understood the union is reluctant to go to the Labour Court because the court would be unable to address issues regarding the corporate restructuring which are at the centre of the dispute.
