Optimism from minister for laid-off staff

COMMERCE and Employment is optimistic staff who have lost their jobs in the finance industry will find other posts in other organisations without undue delay, its minister has said.

It follows an announcement by ABN Amro that it will make 14 people redundant.

The Dutch bank is the latest in a string of organisations to have announced cuts this year, with HSBC, Credit Suisse and Clydesdale Bank among the others.

Minister Kevin Stewart, pictured, said the current low interest rate environment continued to present a challenging operating environment for banks around the world.

'The department is optimistic that those valued employees who have been impacted will find alternative employment, as appropriate, without undue delay and will provide support and guidance if and where necessary.'