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12/01/2012
Ulster Bank To Cut 950 Jobs
Ulster Bank is to slash its workforce by 950, with 600 redundancies in the Republic of Ireland and 350 in Northern Ireland.
The bank's parent company, Royal Bank of Scotland also announced it will be laying off 3,500 staff in its investment wing, to compete with the financial sector.
In a statement the bank said: "As local and global economies continue to deteriorate, these actions are being taken as part of the bank's overall business strategy to ensure the organisation is well placed to compete effectively in the market and continues to serve the needs of its 1.9 million customers across the island of Ireland through its extensive branch and business centre network."
Larry Broderick, General Secretary of the Irish Bank Officials Association, said the sheer magnitude of proposed redundancies is breathtaking.
He said the union is trying to protect as many jobs as possible and he wants answers on how cuts will help the bank's declared commitments.
(CD/GK)
The bank's parent company, Royal Bank of Scotland also announced it will be laying off 3,500 staff in its investment wing, to compete with the financial sector.
In a statement the bank said: "As local and global economies continue to deteriorate, these actions are being taken as part of the bank's overall business strategy to ensure the organisation is well placed to compete effectively in the market and continues to serve the needs of its 1.9 million customers across the island of Ireland through its extensive branch and business centre network."
Larry Broderick, General Secretary of the Irish Bank Officials Association, said the sheer magnitude of proposed redundancies is breathtaking.
He said the union is trying to protect as many jobs as possible and he wants answers on how cuts will help the bank's declared commitments.
(CD/GK)
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Ireland WeatherThis Evening and Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
