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Allied Irish Plans To Axe 2,000 Jobs
Allied Irish Banks will lay off more than 2,000 employees, as losses widened to €10.16 billion in 2010.
Allied Irish Bankswill lay off more than 2,000 employees, as losses widened to €10.16 billion in 2010,The Wall Street Journalreports. The government-controlled lender employs about 13,750 people in the Irish republic and in Northern Ireland and has a further 1,250 staff in the U.K.
It will perform the job reduction process in a phased manner. The bank has already received €7.2 billion in government aid and is seeking another €13.3 billion in capital to help cover anticipated loan losses over the next three years.
Click here for the story fromThe Wall Street Journal.
Click here for additional coverage fromBloomberg.