National Irish Bank to close 25 branches and cut 150 jobs
150 voluntary redundancies are sought by National Irish Bank as part of a restructuring plan announced today.
The restructuring will result in closing almost half of the bank branches (25 of 58) in Ireland during 2010 and 2011.
NIB Chief Executive Andrew Healy reaffirmed the ‘continued commitment’ of the bank’s parent, Danske Bank Group, to the Irish market.
Mr Healy said: ‘The banking sector in Ireland is on life support. Banks have to react by reducing costs and amending their business models. We are taking these actions to ensure we have a long-term future, a healthy future.’
The bank employs almost 700 people today.