| 10.1°C Dublin

EBS make 200 job cuts

FORMER building society EBS is to shed a further 200 jobs -- effectively halving its workforce.

The announcement that the company is seeking 200 voluntary redundancies comes after it was revealed staff at its parent company, AIB's Northern Ireland operation First Trust Bank, won a €2.3m payout in bonuses and pay rises.

Unite trade union has accused AIB of "ripping the heart out of what was once an institution of the people". Unite regional officer Colm Quinlan said that the company is pressing ahead with "savage cuts" that will end the relationship it has with customers. An AIB spokesperson said it announced the planned staff cuts as part of €200m cost-cutting measures. Staff will hold a meeting with Unite officials next Tuesday at which the possibility of industrial action will be discussed, the union said.