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
750 jobs Number of planned job losses
Announcement Date
9 February 2010
Employment effect (start)
3 May 2010
Foreseen end date
30 July 2010
Description
Bank of Scotland (Ireland) has announced the closure of its Halifax business and Irish branch network, which will result in 750 redundancies. The bank says it will close its 44 Halifax branches, commencing in May and concluding in July 2010. It is owned by the partly nationalised UK bank Lloyds. Bank of Scotland (Ireland) said it was withdrawing from the Irish retail banking market after a review found that Halifax was too small to survive as a result of the financial crisis.
Sources
10 February 2010: The Irish Times
Citation
Eurofound (2010), Bank of Scotland (Ireland), Closure in Ireland, factsheet number 70169, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70169.
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