Union claims BOI plan threatens 1,000 jobs

BANK of Ireland plans to sell off such assets as ICS Building Society and New Ireland Assurance in a move the Unite union said will put 1,000 jobs in jeopardy.

The announcement that it plans to dispose of several high-profile businesses and a number of its subsidiaries yesterday resulted in its shares falling 1 cent, or 0.58%, to €1.71.

Irish Life and Permanent is understood to be considering an offer for parts of the group.