Menu
20/05/2009
Economy Blamed As Bank Cuts Jobs
Banking jobs are being cut at a local bank as a direct result of the economic crisis.
The ACC Bank is to cut 200 jobs which senior executives said is on foot of the sharp deterioration in the Irish economy.
The collapse of the Irish property market is also said to be to blame.
Rob Hartog, ACC Bank's Chief Executive Officer, said the economic downturn has severely impacted ACC Bank's financial performance in 2008.
The ACC Bank plc - which is part of the Rabobank Group - currently 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."
A statement from a leading economist at the University of Ulster has meanwhile signalled that the North's financial health may be about to improve - suggesting an upturn from 2010.
See: NI Economy To Grow In 2010
The ACC Bank is to cut 200 jobs which senior executives said is on foot of the sharp deterioration in the Irish economy.
The collapse of the Irish property market is also said to be to blame.
Rob Hartog, ACC Bank's Chief Executive Officer, said the economic downturn has severely impacted ACC Bank's financial performance in 2008.
The ACC Bank plc - which is part of the Rabobank Group - currently 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."
A statement from a leading economist at the University of Ulster has meanwhile signalled that the North's financial health may be about to improve - suggesting an upturn from 2010.
See: NI Economy To Grow In 2010
Related Northern Ireland Recruitment News Stories
Click here for the latest headlines.
30 April 2014
1,000 Job Losses At Co-Op Bank
Unite has welcomed the Kelly report into the Co-op merger with the Britannia Building Society which has exposed the "reckless incompetence" which has seen more than 1,000 jobs cuts and caused deep uncertainty for those left behind.
1,000 Job Losses At Co-Op Bank
Unite has welcomed the Kelly report into the Co-op merger with the Britannia Building Society which has exposed the "reckless incompetence" which has seen more than 1,000 jobs cuts and caused deep uncertainty for those left behind.
10 February 2010
Halifax Closes With Loss Of 750 Jobs
Ireland's employment woes continue as the Bank of Scotland has announced it will be closing its network of financial services in the state, costing some 750 jobs in the sector.
Halifax Closes With Loss Of 750 Jobs
Ireland's employment woes continue as the Bank of Scotland has announced it will be closing its network of financial services in the state, costing some 750 jobs in the sector.
29 November 2017
LBG To Close 49 Branches
Unite the union has announced that Lloyds Banking Group (LBG) informed staff that they will be closing another 49 branches of the Halifax, Bank of Scotland and Lloyds Bank, resulting in 99 job losses.
LBG To Close 49 Branches
Unite the union has announced that Lloyds Banking Group (LBG) informed staff that they will be closing another 49 branches of the Halifax, Bank of Scotland and Lloyds Bank, resulting in 99 job losses.
26 January 2009
Bank Seeks Redundancies As Recession Bites
As shock news emerged today that more that 700 jobs are to be lost at the Ulster Bank across Ireland, there's yet more evidence that the recession is hitting hard with shock redundancies predicted across the UK's steel industry.
Bank Seeks Redundancies As Recession Bites
As shock news emerged today that more that 700 jobs are to be lost at the Ulster Bank across Ireland, there's yet more evidence that the recession is hitting hard with shock redundancies predicted across the UK's steel industry.
-
Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
