Spending plan targets €75 million reduction through 2030
The Central Bank of Ireland targets a €75 million reduction in its projected expenditure trajectory through 2030. The programme includes €26 million in pay savings and an anticipated reduction of around 120–140 roles.
Non-pay savings lead the programme
The Central Bank of Ireland (CBI) has introduced a multi-year programme targeting a €75 million reduction in its projected expenditure trajectory through 2030.
Most savings will come from non-pay measures, including targeted IT investment, lower consultancy and contractor spending and other efficiency initiatives.
Pay costs will account for €26 million of the reduction, equivalent to 8 percent of projected 2030 pay expenditure.
The CBI anticipates reducing around 120–140 roles by changing its size and organizational structure.
It links these changes to investments in organizational capability and the maturity of frameworks developed over recent years.
Staff had previously been informed of the planned pay-cost reduction.
Voluntary departures under public-service terms
The CBI has launched a voluntary severance scheme and begun engaging with employees and staff representatives.
The scheme will follow standard public service conditions; eligibility, terms and application procedures will be communicated directly to staff in the coming days.
The bank says it aims to lower costs while maintaining operational effectiveness.
Its broader strategy seeks greater resilience, responsiveness and forward-looking capability as it adapts to external challenges and new legislative responsibilities.
A lower trajectory, not a baseline
The target concerns projected spending, not a stated reduction from current expenditure.
Non-pay measures carry most of the savings, while staffing changes account for the pay component.
Eligibility and application terms remain pending for staff assessing the severance offer.
Source: Central Bank of Ireland finance strategy
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