The special liquidator of the IBRC – formerly Anglo Irish Bank - has told employees that their jobs are safe for the next three months.
In an email to staff, Kieran Wallace says that the wind-down process is likely to take a number of months.
He says that taking the concerns of employees into account, he and fellow Special Liquidator Eamon Richardson wanted to give further reassurance to employees about the duration of their employment during the liquidation.
He confirms that there will be no termination of contracts within the first three months of the liquidation.
The email adds that they will communicate an update on progress on the wind-down and its impact on the duration in two months time.
Mr Wallace is to meet the Irish Bank Officials Association tomorrow for an update on how the liquidation will proceed.