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
130 jobs Number of planned job losses
Announcement Date
17 August 2011
Employment effect (start)
Foreseen end date
31 December 2012
Description
The controversial financial institution Anglo Irish Bank is to start a consultation with staff that will result in up to 350 job losses by the end of 2012, 130 of which will come from Ireland.
The bank said it hoped to achieve the workforce reduction through voluntary redundancies, but added that compulsory layoffs could be required if targets are not met.
The redundancies are part of a process to wind-down the bank by 2020. Anglo recently merged with Irish Nationwide as part of the new Irish Government's banking strategy. Anglo was at the centre of events relating to Ireland's failed banking system.
Sources
17 August 2011: RTE
Citation
Eurofound (2011), Anglo-Irish Bank, Internal restructuring in Ireland, factsheet number 72281, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72281.
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