Bank of Ireland to cut 220 Belfast jobs
Published 04/11/2010 | 11:53
Bank of Ireland has announced details of a restructuring programme that will see around 220 jobs lost at its Belfast headquarters.
The move, first announced in the summer, will see the bank centralise its business support work in Dublin.
The redundancies, which will also see around 50 posts shed in London, form part of the 750-job reduction programme announced by the group in July.
The restructuring plan had to be agreed by the European Commission after the bank received state funding from the Irish Government.
The bank is hoping the achieve the jobs losses through voluntary redundancies.
A spokeswoman for the bank said: "The planned changes, which are subject to consultation with affected staff, would ensure the business support activities involved are delivered in a manner that optimises operational efficiency and capability.
"They form part of the bank's EU approved restructuring plan announced in July 2010, which provided clarity on the future shape of Bank of Ireland Group."
The bank is centralising operations in both Dublin and Bristol.
IBOA (the Irish Bank Officials' Association) said the move was disappointing but not unexpected.
"Job cuts not only affect those who leave, but also those who remain," said the finance union's general secretary Larry Broderick.
"IBOA's aim is always to protect both, by securing the best possible redundancy terms and by ensuring that any potential adverse impact on continuing staff is kept to an absolute minimum."
He said he would be meeting the bank's senior management tomorrow to discuss the situation.