Restructuring events
European Restructuring Monitor (ERM)
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.
Bank of Ireland is to close 28 of its service centres across the county, which is likely to result in a workforce reduction of 200 employees.
The service centres employ up to 420 people, but it is expected that over half of the staff working in the service centres will be retained by the Bank. The function of the service centres, mostly administrative and support oriented, is to be centralised.
The Financial Services Union (FSU) expressed concern with the announcement, citing uncertainty for staff at this time.
Any job reductions would be on a voluntary basis, at first instance, and according to a collective agreement the Bank has with the FSU.
Eurofound (2018), Bank of Ireland , Closure in Ireland, factsheet number 93890, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93890.