The Labour Relations Commission has issued recommendations aimed at resolving the dispute between the Bank of Ireland and the Irish Bank Officials' Association over the bank's plan to contract out its computer division to Hewlett-Packard.
The recommendations have raised the minimum transfer payment for the 540 staff to just over €5,000 each.
The dispute was sparked by the bank's decision to outsource its information technology operations to Hewlett-Packard, a move that would involve the redeployment of 300 of the bank's staff at its ITSIS division at Cabinteely in Dublin - 220 of whom are members of the IBOA.
The IBOA wanted its members to be guaranteed job security for seven years of the Hewlett-Packard contract. THE LRC recommendations, if accepted, would see job security for staff transferring to HP increased from three to five years depending on length of service.
Bank of Ireland has accepted the recommendations and a spokesman for the IBOA said the document represented a 'substantial achievement' for members.