Bank of Ireland is to cut 2,100 jobs in Ireland and the United Kingdom as part of a cost-cutting drive fuelled by increased competition.
Ireland's second largest company also said it would listen to offers for its UK retail division Bristol & West.
The cuts will trim the bank's 17,000 strong workforce by 12% over the next four years, as it tries to make 120m euros ($157m; £83m) in annual savings. The bank is facing tougher competition in its domestic market.
Bank of Scotland recently announced plans to expand in Ireland.
Competitiveness
The job cuts will primarily affect Bank of Ireland's domestic operations, which employ 12,000 staff.
Chief executive Brian Goggin said the job cuts would "enhance the competitiveness of the Bank of Ireland Group and enable us to capitalise on growth opportunities".
Irish unions said that they would oppose the layoff plans but did not indicate whether strike action was being considered.
Bank of Ireland also said it had received several offers for Bristol & West, which employs 5,000 staff across 97 branches.
It said it would review its options about a potential sale. Possible buyers are thought to include Alliance & Leicester.
By: N. Peter Kramer
