1400 jobs to go at Bank of Ireland but no indication on future of branches

1,400 jobs are to be cut at Bank of Ireland over the next few years.

The bank announced a voluntary redundancy scheme this morning, which will open in two weeks’ time.

Bank of Ireland now employs around 10,400 people across the country.

But it wants to cut that number to fewer than 9,000 beyond 2021.

The redundancies will not target any specific arm of the bank, and are open to workers company wide.

John O’Connell, of the Financial Services Union, feels the announcement has come at the worst possible time.

The bank also revealed todat that it has lost 669 million before tax in the first half of this year.

Business journalist Gavin McLoughlin believes the job cuts are not surprising in this context, but says they were already struggling before Covid.

It’s understood Bank of Ireland is not considering any branch closures at this time.