AIB to cut 1,500 jobs as tracker mortgage scandal hits profits

AIB is to cut 1,500 jobs over the next two years.

The job cuts will be made by the end of 2022.

Profits at the bank fell by 60% last year largely due to the tracker mortgage scandal.

Colin Hunt, CEO at AIB, said the job losses will be achieved in a number of different ways.

Mr Hunt said: "Retirements in the normal course of business, people choosing to leave the bank to pursue careers elsewhere and, thirdly, a voluntary severance programme."