Wednesday February 26, 2020

Knives out at the banks as thousands are let go

Numerous jobs are set to be lost in the banking sector as the industry tightens its belt a little more, writes Jon Ihle.

26th February, 2012
Ulster Bank on George's Quay in Dublin. Photo: Photocall

The spate of job creation announcements since the beginning of the year will be tempered in the coming months, as long-awaited redundancy programmes in the banking sector finally take shape. Thousands of well-paid, highly-skilled jobs will be lost this year as the industry scrambles to slash costs amid continuing losses.

Within the next week, AIB is likely to announce its proposed terms for a voluntary redundancy package aimed at reducing staff numbers by at least...

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