The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
150 jobs Number of planned job losses
Announcement Date
8 December 2009
Employment effect (start)
4 January 2010
Foreseen end date
30 June 2011
Description
National Irish Bank is to make 150 people redundant, which amounts to almost a quarter of its workforce of 634. It is closing 25 of its 58 branches, suggesting that the continuing recession in the financial services industry is a major factor. The Danish-owned bank said the restructuring plan involves the closure of 43 per cent of its branch network. The redundancies will occur on a phased basis, beginning in early 2010 and concluding by mid-2011.
Sources
8 December 2009: The Irish Times
Citation
Eurofound (2009), National Irish Bank, Internal restructuring in Ireland, factsheet number 69986, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69986.
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