Type
Closure
Country
United Kingdom
Region
Location of affected unit(s)
Jersey, Isle of Man
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

170 jobs
Number of planned job losses
Job loss
Announcement Date
6 April 2012
Employment effect (start)
6 April 2012
Foreseen end date

Description

Irish bank AIB has announced that it will cease operations in Jersey and the Isle of Man resulting in the loss of 170 jobs. The move is part of a wider restructuring plan aimed at making the company more 'domestically-focused'. The company announced it would enter a 30-day consultation period in order to agree on a package for the affected staff.

The bank has been operating in Jersey and the Isle of Man for over 30 years.


Sources

  • 6 April 2012: Irish Examiner

Citation

Eurofound (2012), AIB, Closure in United Kingdom, factsheet number 73609, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73609.