A ballot of 1,000 workers on industrial action at the State-owned Irish Life assurance company has been defeated.
The Unite union had said workers had not been given enough information by management on the restructuring of the company in advance of its sale.
Irish Life plans 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 had written to Unite saying that it must be in a position to transfer staff after 3 October because of a High Court order to separate Permanent TSB and Irish Life.
However, employees feared that their terms and conditions could be adversely affected by the restructuring.
Irish Life had rejected union criticisms, saying jobs and conditions would be protected under Transfer of Undertakings legislation.
Unite National Officer Colm Quinlan said that over 40% of staff had been prepared to take industrial action.
He said it would be a mistake for the company to interpret the ballot result as meaning that management had a free hand to implement changes to members' terms and conditions without an agreement that was acceptable to them.
He said the ballot result did not mean that industrial action would not happen if the company failed to address the issues necessary to reach agreement.
Some issues of dispute, including the treatment of staff mortgages after the sale of Irish Life, were resolved while the ballot was being taken.
In a statement, Irish Life welcomed the decision by Unite's members and said it looked forward to working with the union in a "constructive, progressive manner" at the Labour Court.
