Bank of Ireland is to cut staff from its private banking sector, which deals with the finances of wealthy clients.

The bank is extending its voluntary redundancy scheme to the 130 staff in its private banking division.

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A bank spokesperson has declined to confirm the number of redundancies targeted in the division.

The spokesperson added that the redundancies would be voluntary.

The redundancies were part of an ongoing restructuring of the business, which has cut 5,000 jobs since 2008.

Bank of Ireland currently employs 11,730 people.

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