BANK of Scotland Ireland and the Unite union have reached agreement on improved redundancy terms for those to be laid off.
Unite members had voted in favour of industrial action after the announced closure last month of the bank's Halifax branch network and the loss of 750 jobs.
The bank said new redundancy terms would provide for 7.25 weeks' pay per year of service, with a minimum 26 weeks' pay regardless of service. The maximum will be 143 weeks' pay. The deal includes a retraining grant of €3,000 per year of service,up to a maximum of four years.