AIB may accelerate job cuts after hiring freeze

Bank has no plans for large-scale layoffs

AIB’s average number of staff fell to 9,801 in 2018 from 10,137 the previous year. Photograph: Alan Betson

AIB’s average number of staff fell to 9,801 in 2018 from 10,137 the previous year. Photograph: Alan Betson

AIB, which introduced a hiring freeze in recent months to reduce staff numbers, may seek to accelerate job reductions next year as ultra-low European Central Bank (ECB) rates squeeze banks’ income, according to sources.

The hiring freeze, together with natural attrition and “business as usual” small voluntary redundancy schemes that have been offered in targeted areas in recent years, are designed to lead to a continued reduction in employee numbers.

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