ANGLO IRISH BANK plans to reduce its workforce by 350 people by the end of next year, as part of plans to wind-down the bank by 2020.
Of the 350 people to lose their jobs, 130 will be workers in Ireland. The bank hopes to reduce the workforce through voluntary redundancies but says compulsory lay-offs may be inevitable if targets are not met, RTÉ reports.
The Irish Independent reports that the bank currently employs 1,280 people – including 280 workers who transferred after the bank merged with Irish Nationwide earlier in July.
In a statement released today, Anglo said that it hoped to achieve its aims by the disposal of certain businesses such as “the US loan book and wealth management division, the completion of specific projects, and the implementation of redundancies across a number of categories of staff in Ireland and the UK,” reports the Belfast Telegraph.
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