Employees in Irish Life & Permanent no longer have confidence in senior management, according to the trade union Unite.
The union has written to the board of IL&P to express the view that senior management, including Chairman Gillian Bowler and Interim Chief Executive Denis Casey, no longer retain the confidence of the workforce.
The letter was delivered in advance of staff briefings by management throughout the company.
The letter claimed that Unite members, bank officials and employees had behaved in exemplary fashion throughout the current financial crisis, but that the same does not hold true for senior management.
The union represents about half IL&P's 5,000-strong workforce.
Last week it emerged that IL&P transferred a total of €8.2bn to support Anglo Irish Bank.
The Financial Regulator is investigating the transactions.
A spokesperson for IL&P said the board was not aware of the transactions as they took place and has expressed its disapproval.
He said the board understands the reports had caused disquiet at a number of levels, including amongst staff in the group.
