Bank Of Ireland To Cut 1,400 J...

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Bank Of Ireland To Cut 1,400 Jobs

Emma Tyrrell
Emma Tyrrell

11:12 5 Aug 2020


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Bank of Ireland is to cut 1,400 jobs.

The bank has launched a voluntary redundancy programme across the group this morning.

It says in the medium term, it expects to reduce its staff numbers from 10,400 to less than 9,000.

The bank lost lost 669 million euro before tax in the first half of this year, partly due to Covid-19.

Chief executive Francesca McDonagh says the bank has significantly cut costs in recent years;

"We've taken, as a bank, over a quarter of a billion euro of costs out of our business in the last two and a half years."

She says some of that has been invested in technology and staff and that they want to attract, retain and develop their talent.

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