AIB 'set to announce around 2,500 redundancies'

AIB 'set to announce around 2,500 redundancies'

Allied Irish Banks is set to announce around 2,500 redundancies, it has been reported.

The bank had indicated last year that it would be seeking somewhere in the region of 2,000 lay-offs - however Bloomberg has reported that that the number will be closer to 2,500.

Its merger with EBS and a continued deterioration in its financial situation have been blamed for the higher number of job cuts being sought.

It is understood that the move will be confirmed to staff at a series of meetings either this evening or tomorrow.

The Irish Bank Officials Association (IBOA) is now seeking urgent meetings with both the Department of Finance and AIB senior management.

"IBOA is unable to comment on the accuracy of the recent speculation," said IBOA general secretary Larry Broderick, “since the bank has yet to provide us with details of its proposals.

"The Union is, therefore, seeking these meetings in order to clarify the future direction of the bank and the likely implications of any change for staff and customers."

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