2,000 jobs may go as AIB to unveil €8.6bn losses

LARGE-scale job losses are expected at Allied Irish Bank in the wake of the bank reporting substantial losses estimated at close to €8.6 billion for 2010.

Speculation mounted over the past few days that the virtually nationalised bank, which is close to unveiling a major restructuring plan, could be about to announce up to 2,000 job cuts in its Irish operations, where 12,000 people are employed.

Today’s results are expected to show heavy losses for the last year, but as much attention will be on any clarification on the radical overhaul pending at the bank.