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AIB Weighs Offering New Voluntary Job-Cut Program for Bankers

  • Bank may trim jobs if hiring and promotion freeze doesn’t work
  • AIB to make decision by end of year on potential reductions
The logo of the Allied Irish Bank (AIB) sits at a branch in Dublin, Ireland
Photographer: Crispin Rodwell

AIB Group Plc is considering a new job-cutting plan that would offer staff payouts to exit, according to a person familiar with the matter, as the Irish bank seeks to pare costs.

The state-owned lender is weighing whether it needs a new round of job reductions or if its current hiring and promotion freeze will sufficiently reduce expenses, according to the person, who asked not to be named because the matter is private. The company is likely to make a decision by the end of the year, the person added.