Staff at Dublin-based Depfa Bank will find out by the end of the month if they are to face job loses as a result of a €5 billion merger with German property investment bank Hypo Real Estate.
The merger, which went through at the end of last month is expected to generate around €60 million in cost savings due to the amalgamation of certain shared functions and a Depfa spokesman told ireland.comtoday that consultations on the restructuring will be completed within two weeks.
As a result, some job loses across the group were likely he said.
Depfa employs 300 people in Dublin and the 180 staff working for Hypo Real Estate will join them at Depfa's Dublin headquarters in the IFSC.