IMF wants banks to cut more staff

The IMF has warned that the swingeing staff cuts flagged by the three main Irish banks will be insufficient and that further redundancies are necessary.

Ian Kehoe - avatar

Ian Kehoe

6th January, 2013

The IMF has warned that the swingeing staff cuts flagged by the three main Irish banks will be insufficient and that further redundancies are necessary.

The fund has notified the government that further restructuring is necessary at AIB, Bank of Ireland and Permanent TSB, and that a more radical redundancy programme is required.

The three banks have announced plans to cut their workforces by 20 per cent by the end of 2015, bringing the average...

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