Union warns of bank job losses

ANY consolidation or mergers in the Irish banking sector could bring about “serious job losses“, the Irish branch of trade union Unite has warned.

The UK head office of Unite, formerly the Amicus trade union, has warned the financial services industry in Britain that vast cuts in staff levels will only serve to deepen the ongoing economic crisis. Since the turn of the year, approximately 20,000 people in the financial sector in the UK have lost their jobs.

Unite’s UK national officer, Rob MacGregor said the union is “infuriated” that banks and insurance companies are “failing to recognise the damage that will be done to their businesses if they continue to simply slash thousands of staff each month.”