He described how "even significant staff changes often do not result in the desired increase in efficiency".

The referendum is important to banks like JPMorgan Chase & Co JPM.N, which has significant staff in Britain to handle European transactions.

Although Amsterdam is more attractive than other locations that might have been chosen, the agency is still braced for significant staff departures.

Qantas has previously flagged significant staff cutbacks following the onset of virus, with the airline permanently cutting 6000 jobs from its operational workforce.

Dublin and Cork airports may see significant staff downsizing with 750 to 1,000 jobs likely to be lost, the chief executive of Daa has said.