May 20
ACC Bank cuts 200 jobs
ACC Bank is to cut 200 jobs due to the global financial crisis.
The bank says the sharp deterioration in the Irish economy and the collapse of the Irish property market are to blame.
ACC Bank Chief Executive Rob Hartog says the economic downturn has severely impacted its financial performance in 2008.
ACC Bank is part of the Rabobank Group.
It employs around 660 people in its head office in Dublin and at 25 branches around the country.
The 200 job losses will be at both the bank’s head office and across the branch network with the 16 branches closing on a progressive basis between October 2009 and April 2010.
Mr Hartog said: ‘The decision to implement these changes at ACC Bank has been a very difficult one to make, and we will be working with trade unions and employee representatives to determine how best to implement them over the next few weeks.’