Restructuring of Anglo and INBS could axe 300 jobs

AS many as 300 jobs could be lost as a result of the forced amalgamation of Anglo Irish Bank and the Irish Nationwide Building Society (INBS).

Anglo Irish Bank has formally submitted its restructuring plans – including how it can best be integrated with the INBS – to the National Treasury Management Agency (NTMA), following February’s order to do so by the High Court.

A combination of the wind-down banks will result in an organisation employing around 1,300 staff, with the merger resulting in approximately 300 job losses — although the final figure is unlikely to be known until later this year.