Sunday September 20, 2020

Banks on a shrinking path

Ulster Bank's announcement of the loss of nearly 1,000 jobs has turned the spotlight on AIB and Bank of Ireland, write Nicola Cooke and Jon Ihle.

15th January, 2012
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Ulster Bank Group's head offices on George's Quay in Dublin: the bank's redundancies announcement will refocus attention on staff numbers in Ireland's other banks. Photo: Photocall

The 950 redundancies Ulster Bank announced last week have refocused attention on appropriate staffing levels in all of Ireland's banks, as they discard their boom-time business models in favour of leaner and more conservative ways of doing business.

The latest round of cuts at Ulster Bank will see overall headcount at the bank drop by about a third from a pre-crisis level of 6,000 to 4,000 workers. The lender, the third-largest by market share in Ireland,...

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