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10/02/2010
Halifax Closes With Loss Of 750 Jobs
Ireland's employment woes continue as the Bank of Scotland has announced it will be closing its network of financial services in the state, costing some 750 jobs in the sector.
Announcing the decision today, the Bank of Scotland said it would be withdrawing from Retail and Intermediary banking, which includes the Halifax retail bank network in the Republic of Ireland and the Bank of Scotland (Ireland) Asset Finance and Homeloans businesses.
A statement from the bank said Halifax in the Irish Republic would close on a phased basis from the end of May 2010, including the 44 retail branches, the customer service centre in Dundalk and direct support functions.
There would also be a withdrawal of Halifax products for new business effective from today.
A spokesman for the bank said: "Following a strategic review, Bank of Scotland (Ireland) intends to reshape its business to reflect the continuing and very difficult economic environment, and to secure a viable future for the Bank. As a result, the Bank plans to focus on its established strengths of corporate and commercial banking and is committed to maintaining a strong presence in the Irish Market.
"Halifax deeply regrets having to announce its intention to close and would like to thanks customers for their business and support."
The bank is cutting 400 jobs across the nationwide Halifax branch network, 220 jobs at a specialist finance unit in the head office on St Stephen's Green in Dublin and 130 posts at its customer service centre in Dundalk.
(DW/GK)
Announcing the decision today, the Bank of Scotland said it would be withdrawing from Retail and Intermediary banking, which includes the Halifax retail bank network in the Republic of Ireland and the Bank of Scotland (Ireland) Asset Finance and Homeloans businesses.
A statement from the bank said Halifax in the Irish Republic would close on a phased basis from the end of May 2010, including the 44 retail branches, the customer service centre in Dundalk and direct support functions.
There would also be a withdrawal of Halifax products for new business effective from today.
A spokesman for the bank said: "Following a strategic review, Bank of Scotland (Ireland) intends to reshape its business to reflect the continuing and very difficult economic environment, and to secure a viable future for the Bank. As a result, the Bank plans to focus on its established strengths of corporate and commercial banking and is committed to maintaining a strong presence in the Irish Market.
"Halifax deeply regrets having to announce its intention to close and would like to thanks customers for their business and support."
The bank is cutting 400 jobs across the nationwide Halifax branch network, 220 jobs at a specialist finance unit in the head office on St Stephen's Green in Dublin and 130 posts at its customer service centre in Dundalk.
(DW/GK)
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