Bank set to shed 2,000 jobs in bid to cut costs

BANK of Ireland is expected to announce this week that it is to shed 2,000 jobs as part of cost-cutting measures.

The bank is expected to give details of large-scale job losses at its back-office operations.

It employs 12,000 people in Ireland and almost 18,000 in total. The cuts will affect around 15% of the workforce and are expected to save the bank around €130 million every year in pay costs.