AIB

Type
Internal restructuring
Country
Ireland
Region
Ireland;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
150 jobs
Number of planned job losses
Job loss
Announcement Date
5 July 2024
Employment effect (start)
5 July 2024
Foreseen end date
1 July 2027

Description

Irish retail bank AIB is to cut 150 jobs over the next three years.

The Bank has been in consultation with the Financial Services Union (FSU) regarding the voluntary redundancies.

The redundancies will mainly be in the Bank’s Financial Solutions Group that looks after problem loans. This division was set up during the financial crisis and had 1,500 employees at its peak. There are currently 300 employees working in that part of the Bank today.

AIB employs just over 10,000 employees in Ireland and the workforce will be reduced to about 9,875 after these redundancies.

Sources

Citation

Eurofound (2024), AIB, Internal restructuring in Ireland, factsheet number 201395, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201395.