No comment from BoI as reports indicate 2,000 job cuts

Bank of Ireland has refused to confirm reports this evening that up to 2,000 job losses are to be announced later this week.

The figure would amount to 15% of the total workforce of 12,000.

A spokesperson from the bank said that it will be issuing a trading statement to the markets on Tuesday morning.

Chief executive Kevin Dolan has already told staff that the bank’s priority was to cut costs.

Tuesday's statement is expected to contain details of the cost-cutting measures.