Wednesday 7 December 2016

'Thousands more under threat' as MBNA axes 66 staff

Published 17/08/2010 | 11:53

Credit card company MBNA is to axe 66 workers as a finance union today warned thousands more jobs in the sector are under threat.

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The Bank of America-owned firm confirmed the majority of compulsory redundancies will be in Carrick-on-Shannon, Co Leitrim.

A small number of workers in its Dublin base will also be affected.

An MBNA spokeswoman said the announcement follows a review of business structures during the economic downturn.

"Following a recent review, the company believes it needs to secure 66 redundancies from its 1,000 associates in the card services business," she said.

"The company is in discussions with the Associates Forum with a view to implementing the redundancies in the coming weeks."

MBNA opened for business in Ireland in March 1997 and grew to become one of the top three credit card providers in the country.

A spokeswoman added: "As one of the largest card services providers in the Irish marketplace, MBNA's card services operations in Ireland will continue to be a strong competitor in the Irish market and an integral part of the company's European and global business model."

Meanwhile, the Irish Bank Officials' Association warned up to 4,000 jobs in the banking sector could go by the new year - on top of 6,000 redundancies over the last 18 months.

IBOA general secretary Larry Broderick said speculation is rife that further substantial job losses are likely in Allied Irish Bank after the recent announcement that Bank of Ireland is to make another 750 staff redundant on a phased basis by the end of 2011.

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