BoI to cut over 2,000 jobs
The Bank of Ireland is to cut over 2,000 jobs after members of the Irish Bank Officials Association (IBOA) voted to accept a cost-cutting programme today.
Kieran Mulvey's recommendation on the Bank of Ireland's Cost and Capability Programme, announced in March, will see 2,100 jobs being lost at the bank.
The bank is targeting an annual reduction in costs of €120m over the next four years.
The IBOA said it would seek an early meeting with senior management to facilitate the introduction of a 35-hour working week and the application of a 6% profit share payment.
The banking union will also seek to ensure that any staff wishing to leave the bank - through either voluntary severance or early retirement - is accommodated.
The IBOA's General Secretary Larry Broderick said: "Given recent revelations, the IBOA will be ensuring that staff will not be tapped on the shoulder or forced out and will be insisting all staff wishing to remain in Bank of Ireland will be accommodated."
