Bank of Ireland has said it is making progress agreeing a process with unions to make 2,100 people redundant.
The company was commenting as it released results showing it made a profit of €3.8 million every day for the 12 months until March.
Results show profits up 5% to €1.3 billion, but its actual net interest margin - a key figure for the performance of banks - is down to just 2%.
As a result it has embarked on a massive programme to slash costs. Part of that programme includes cutting the workforce, mainly in back office operations.
Today the bank's Chief Executive Brian Goggin said that would be done mainly by voluntary redundancies. But he said he could not rule out compulsory job losses.
The company is holding talks with the Irish Bank Officials' Association.
Overall, the bank was positive for the outlook for the coming year. It makes 56% of its profit from Ireland.
