Micheál Martin urged to step in to stop BoI cutting 1,400 jobs

Bank of Ireland  CEO Francesca McDonagh said there is “no read across” from the 1,400 voluntary redundancies to Bank of Ireland closing any branches. Picture: Gareth Chaney Collins

Taoiseach Micheál Martin has been urged to step in and stop Bank of Ireland from cutting 1,400 jobs amid fears the redundancies will lead to branch closures in rural Ireland.

Bank of Ireland chief Francesca McDonagh made the surprise announcement as the lender unveiled a loss of €669m in the first six months of the year, after chalking up €937m in credit impairments so far to take account of the Covid-19 hit on its loans to households, corporates, and small firms.