Numbers in bank sector ‘must fall’

NUMBERS working in the banking sector need to be cut back after the excesses of the boom, Education Minister Ruairi Quinn has said.

Mr Quinn was speaking as Ulster Bank confirmed that nearly 600 workers in the Republic would lose their jobs under cutbacks.

He said the Government planned to help bank workers being made redundant by upskilling employees, but warned that those losing their jobs were unlikely to find work elsewhere in the banking sector.