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Bank of Ireland to seek voluntary redundancies from staff

The number of redundancies could be as high as 1,000, according to reports.

Image: Shawn Pogatchnik/AP/Press Association Images

BANK OF IRELAND is expected to announce details of a new voluntary redundancy scheme today.

It’s understood that the lender will be seeking to cuts its payroll, with the reductions coming into effect over the next two years.

The bank would not give details on the number of redundancies it is looking for, or the terms on which they would be offered. It’s expected they will take effect across the bank’s operations in the Republic of Ireland, Northern Ireland and Britain.

However, RTÉ reports that the figure could be as high as 1,000.

Bank of Ireland has already reduced its staff numbers by roughly 3,700 between March 2008 and the end of last year. It currently employs around 13,000 people.

“As we continue to reposition the group, changes are taking place that will require a number of people to leave,” a spokesperson said.

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The spokesperson said staff would be consulted first about any changes to the bank’s payroll.

More: Bank of Ireland to launch iPhone app tonight>

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Michael Freeman

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