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26/01/2009
Ulster Bank Cuts Hundreds Of Jobs
Ulster Bank has confirmed its plans to axe up to 750 jobs in a major restructuring programme.
The bank group says the restructuring will result in 550 redundancies in the Republic with another 200 in the North, but the majority will be voluntary.
The plans will see the merger of First Active and Ulster Bank under one brand in an effort to cut costs, while forty-five First Active branches across the country will be closed with customers transferred to the local Ulster Bank branch.
Another 15 First Active branches will be renamed under the Ulster Bank brand.
The company says the lay-offs are necessary to enable it to adapt to prevailing market conditions.
SIPTU and the Irish Bank Officials Association are understood to have been briefed on the plans this morning, with more meetings scheduled for the coming days.
(DW/BMcC)
The bank group says the restructuring will result in 550 redundancies in the Republic with another 200 in the North, but the majority will be voluntary.
The plans will see the merger of First Active and Ulster Bank under one brand in an effort to cut costs, while forty-five First Active branches across the country will be closed with customers transferred to the local Ulster Bank branch.
Another 15 First Active branches will be renamed under the Ulster Bank brand.
The company says the lay-offs are necessary to enable it to adapt to prevailing market conditions.
SIPTU and the Irish Bank Officials Association are understood to have been briefed on the plans this morning, with more meetings scheduled for the coming days.
(DW/BMcC)
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