Talks between unions and management on Bank of Ireland's plans to cut its workforce by more than 1,600 workers are scheduled to finish by May 30th.

Bank of Ireland management and the Irish Bank Officials' Association (IBOA) have been holding talks under the chairmanship of Labour Relations Commission chief Kieran Mulvey for the past fortnight.

Mr Mulvey has issued an agreed statement saying that talks last Thursday identified a specific list of priority issues for further negotiation.

He added that he expected the talks to have a positive outcome within a framework that he would draft and which the two parties would approve.

"In order to maintain the momentum which has now been achieved, the parties are to meet again at local level over the coming week to develop further the issues raised in the negotiations to date," the statement said.

"A further period of intensive negotiations will continue under my chairmanship in the week commencing May 23rd, with the agreed objective of concluding these negotiations by May 30th," it added.

Bank of Ireland revealed in March that it plans to cut its workforce by more than 1,600 and said that it would use involuntary layoffs if necessary to achieve its target.

The IBOA has since voted to ballot its members for industrial action if the bank attempts to force redundancies on any of its members.