Governor and Company of the Bank of Ireland News

Wilbur Ross is one of the most acknowledged industry leaders in the fields of bankruptcy, restructuring and privatization, as well as one of the most eminent financial advisors and investors to be engaged in some of the largest out-of-court restructurings and bankruptcies.

Bank of Ireland has set a payout limit of 225,000 for staff leaving the bank under voluntary redundancy terms announced to staff today.

Yesterday's good gainers included EntreMed , which jumped 13.14%. During the millennial madness of the Internet bubble, its shares once rose 330% in a single day , to $51.8125. They now stand at $1.98, something to think about as Facebook parties like it's again 1999 this morning.

Finance union chiefs fear another 600 jobs could be lost at Bank of Ireland after a redundancy deal for the first swathe of lay-offs was agreed.

Bank of Ireland has agreed a voluntary redundancy scheme with employees which their trade union said would pave the way for up to 1,000 more job cuts at Ireland's largest bank.

Details of the new voluntary redundancy scheme at Bank of Ireland will be released in the next few weeks and it is understood that there will be a cap on any total pay-out of E225,000. While it had originally been given that around 750 staff would take up the redundancy offer, it is now thought that the figure will be closer to 1,000 with 350 ... (more)

Documents obtained by the Sunday Independent reveal there was a series of intense meetings between the Department of Finance and Ireland 's two biggest banks in the run up to the State guarantee.