29 July 2013

AIB set to drop 150 local firms in cost-slashing

Allied Irish Banks (AIB) has delivered a blow to Ireland's small practices after 200 local firms whose services AIB traditionally employ for local matters could potentially become as few as 50.

By Charlotte Mullen

AIB believed not likely to go back on decision to drop local firms Patryk Kosmider

According to The Irish Independent, these cuts are set to incur heavy damages on many of the firms whose services AIB are to drop, particularly those whose workforce is as few as two or three people who have come to rely on the bank’s retainer for their forecasting. Some of the firms who have been cut loose have worked with the bank  for a decade at least, but it is believed that the bank will not be reversing the changes. These cuts come amidst a 2,500 lay-off for the business that sees them buckling under the combined weight of small firms’ costing, despite their convenience in tackling more minor, local legal issues.   

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