Anglo job losses may rise to over 700

THE number of job cuts at Anglo Irish Bank could hit 700 as it begins the first phase of its redundancy programme.

The bank will cut 230 jobs initially with 110 jobs to go in Ireland, 95 in Britain and 25 in the US and Europe.

Over the last year 240 jobs have been lost and these latest cuts will reduce staff numbers from 1,800 to 1,300. The second phase of the redundancy programme will likely see reductions of similar scale to the first.