Anglo to cut 350 jobs by end of 2012 ahead of wind-down

ANGLO Irish Bank is to cut 350 jobs from its 1,300-strong workforce by the end of next year as it prepares for its wind-down over the next nine years.

The bank announced yesterday that it had held a series of meetings with staff to inform them of management’s review of the company.

That review is aimed at the ultimate wind-down of Anglo by 2020 and the closure of some of its strands of business by 2016. The initial 350 job cuts will come about over the course of this year and next and will see 130 positions made redundant in Ireland.