Terms laid down for exit of 4,500 bank staff

In the space of one week terms have been either agreed or proposed that will see 4,500 staff leave the financial sector.

The exodus from AIB (2,500 staff), Bank of Ireland (1,000) and Ulster Bank (950) is only likely to grow with major changes afoot at Northern Bank, Permanent TSB, and other financial institutions.

In response, its general secretary Larry Broderick called on the Government to develop an employment strategy for the sector.