OVER 150 jobs will be lost when the Solihull branch of the Bank of Ireland closes in a few months time.
Yesterday (Thursday) it was revealed that the company would be shutting its mortgage office, based in Shirley, as part of a significant cutback of its UK operations.
Both the Stratford Road premises and the Reading branch have been axed as part of the restructure. Six hundred employees will lose their jobs across the Irish firm, with just over a quarter of those based in the West Midlands.
The Shirley office is where mortgages are processed for both the Bank of Ireland and Bristol and West.
Bank of Ireland has said that it has decided to scale down mortgage lending activity in the UK, although banking operations will be continuing as normal.
The move comes at a turbulent time for the market and the Dublin-based company hopes that downsizing will help to cut costs.
Anne Mathews, spokeswoman for Bank of Ireland, said yesterday: “We are starting a consultation process with staff affected today.
“We would expect both Reading and Solihull will close some time in April. Existing mortgage customers will not be impacted in any way.”
* There was better news for employees at the Marks and Spencers store in Solihull town centre. The branch escaped the round of closures announced on Wednesday.