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Anglo begins talks with unions on 130 job cuts

The bank said it hopes to encourage voluntary redundancies, but will lay off staff if targets are not met.

Image: Photocall Ireland

TALKS BETWEEN ANGLO Irish Bank and staff unions will begin today as the lender seeks to cut 130 jobs in Ireland.

The cuts come as the bank seeks to reduce its workforce by 350 positions by the end of next year. Staff were informed yesterday of the proposals and union officials will enter talks with management today, RTÉ reports. The bank said yesterday that it hopes to achieve the cuts through voluntary redundancies but may have to resort to lay-offs if targets are not met.

Anglo Irish Bank merged with Irish Nationwide earlier this year to form the Irish Bank Resolution Corporation, which currently employs 1,280 people.

In a statement yesterday, the bank said the disposal of certain parts of its business and the completion of  “specific projects” would also help it meet its financial targets.

Read more: Anglo plans to reduce Irish workforce by 130 >

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Michael Freeman

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