Bank of Ireland dismisses reports of 10% jobs cuts

REPORTS that Bank of Ireland could let up to one in 10 of its staff go has been dismissed by the bank as speculation and by unions as “nonsense”.

Over the weekend it was claimed the bank wanted to cut at least 10% of its Irish employees in response to the adverse economic conditions provoked by the credit crunch and the collapse of the property market.

The bank has already signalled its plans to cut the cost of some of its non-Irish businesses.