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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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No doubt the job cuts will start at the top and no bonus exists for meeting these targets during the wind down!
Not bad for a bank that shouldnt even exist anymore !
These lot where given pay rises over the last 2 years for their “heavy work load”.
When you are crossing the liffey look towards the bay and the skeleton of a building near the national conference centre. That’s what Anglo has left this city as a reminder of how bad that place was and acted. No sympathy for any worker in a bank no matter how low or high, they all had a part to play in ripping us off (and still do).
Anglo plans to reduce Irish workforce by 130 – Feck that they succeeded in reducing the Irish workforce by nearly 400,000……
Well I suppose its a start!
Are they going to be made redundant or sacked?
@ Earl fits Gerald. Read the article…..don’t know why ur against the ordinary worker in Anglo!
have your say