Up to 200 jobs are to go at AIB under a voluntary severance deal announced by the bank to staff today.
The move is a cost cutting measure and follows a downsizing of a number of projects.
These include the bank's debt reduction efforts which have seen non-performing loan levels from €30 billion in 2013 to around €5 billion today.
The scheme is entirely voluntary and limited to a number of areas, including the "financial solutions" or debt management group, as well as the homes and consumers divisions.
"AIB is a large, agile organisation which is focused on being simple and efficient, and this is supported by a continual focus on managing costs," a spokesperson said.
"In line with this, the bank continuously reviews our resourcing requirements, and voluntary severance (VS) is one solution offered to meet these requirements in certain areas."
A temporary hold on recruitment and promotion is also in place across the bank in an effort to keep costs under control.
"The Union will shortly be entering talks with the Bank on pay for 2020," said Billy Barret, Financial Services Union Senior Official.
"We will be arguing strongly that any savings associated with the current cost agenda need to be accounted for in these discussions."
"Savings made by staff should not just be used to reduce costs; they should also be passed onto the staff directly and in some way used to reverse measures imposed during the downturn. "
The bank currently employs around 10,000 staff including contractors.
It is understood that workers are being offered three or four weeks pay per year of service plus two weeks statutory redundancy, depending on the length of their tenure.
The employees will have a number of weeks in which to consider their options.
Those that opt to take the deal will have to have left the bank by December 18th.
In July AIB reported pre-tax profits - including exceptionals - of €436m for the six months to the end of June - a fall of more than 40% on profits of €762m the same time last year.
Banks are coming under pressure to increase profits at the moment because of the very low interest rate environment.
As a result they are having to keep downward pressure on their operating costs.
