First Active has said it is on course to implement a cost-cutting programme, which will mean the loss of 175 jobs and the closure of 25 of its 76 branches. The programme intends to achieve annual cost savings at the bank of €13 million (£10.2 million). It will cost First Active €26 million. All of the job losses have been achieved through voluntary redundancies throughout its branch network and head office operations. To date First Active has closed 12 branches, with the remaining 13 due to be closed by the end of March. A number of agency operations will also be closed by the end of April.