Reports: Banks and eircom to shed 4,000 jobs

Reports: Banks and eircom to shed 4,000 jobs

It has been reported that up to 4,000 jobs are to go between Bank of Ireland, AIB and Eircom.

Eircom is to shed up to 2,000 jobs and the banks are planning to cut a thousand jobs each before the end of the year.

The Sunday Independent reports that Eircom is trying to deal with debts of more than €3bn and up to 2,000 job losses there would be part of the company's restructuring programme.

The Communications Workers Union is meeting on Tuesday where it is likely the future of staff at Eircom is likely to be discussed.

And its reported in the Sunday Tribune that AIB and Bank of Ireland will cut jobs in their retail and head office operations.

Bank of Ireland is expected to announce plans to axe over a thousand posts - or 10% of its workforce in the next two weeks - as the European Commission approves its business survival plan.

Meanwhile, management at AIB are understood to be working out the details of its job losses ahead of the bank's interim results announcement next month.


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