DUBLIN, Oct 24 (Reuters) - Nationalised Anglo Irish Bank may cut between 200 and 500 of its 1,700 jobs due to the collapse of a business model that focuses on the property market, the Irish Independent reported on Saturday.
Anglo Irish Bank could not immediately be reached for comment.
Anglo Irish, which has received up to 4 billion euros of capital from the state, will transfer 28 billion euros of risky loans to the National Asset Management Agency, a bad bank, in what the government has described as an 'orderly reduction'.
The Irish Independent said new Anglo Irish Chief Executive Mike Aynsley is this weekend finalising details of a voluntary redundancy package that will be unveiled late next week.
The bank, beset by several loan and deposit scandals, has been receiving emergency funds from the European Central Bank though Finance Minister Brian Lenihan said this week its dependence on ECB help had been falling.
Anglo is also planning to submit a restructuring plan to the European Union by next month.
(Reporting by Andras Gergely; editing by Patrick Graham) Keywords: ANGLOIRISHBANK/ (andras.gergely@reuters.com; +35315001529; Reuters Messaging: andras.gergely.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Anglo Irish Bank could not immediately be reached for comment.
Anglo Irish, which has received up to 4 billion euros of capital from the state, will transfer 28 billion euros of risky loans to the National Asset Management Agency, a bad bank, in what the government has described as an 'orderly reduction'.
The Irish Independent said new Anglo Irish Chief Executive Mike Aynsley is this weekend finalising details of a voluntary redundancy package that will be unveiled late next week.
The bank, beset by several loan and deposit scandals, has been receiving emergency funds from the European Central Bank though Finance Minister Brian Lenihan said this week its dependence on ECB help had been falling.
Anglo is also planning to submit a restructuring plan to the European Union by next month.
(Reporting by Andras Gergely; editing by Patrick Graham) Keywords: ANGLOIRISHBANK/ (andras.gergely@reuters.com; +35315001529; Reuters Messaging: andras.gergely.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
