| 8.7°C Dublin

Ulster Bank to make up to 50 staff redundant as part of restructuring


Ulster Bank

Ulster Bank

Ulster Bank

As many as 50 staff could be made redundant at Ulster Bank as the organisation looks to restructure its operations both North and South of the border.

A statement from the Irish Bank Officials Association said that Ulster Bank is looking to align its Northern Irish operations more closely with its parent company RBS in Britain.

Ulster Bank said today that the redundancies are part of a previously announced plan that involves 950 people.

A spokeswoman said the 50 redundancies would be “volunteer-led”.

 She added that job losses were part of a previously announced series of redundancies announced in 2013, when the bank said that 950 staff would be made redundant.

The Republic of Ireland operation is to be developed to focus solely on the market in the Republic.

Both businesses will continue to operate under the Ulster Bank brand.

“This is a major development in the history of Ulster Bank: so it is crucial that the interests and concerns of customers and staff are taken fully into account as these substantial structural changes take place in Ulster Bank,” said Irish Bank Officials Association General Secretary Larry Broderick.

“IBOA has secured commitments from Ulster Bank management, underpinned by RBS, that our members’ existing contracts, terms and conditions and collective agreements with the Union will not change as a result of this development.”

He added: “Similarly, we have been advised that the boards operating in each  jurisdiction will remain in place: the most immediate impact of the new arrangement is likely to be changes in reporting lines.

“We have received indications that there may be some impact on staff numbers – with up to 50 employees in scope for redundancy. However, if this arises, any staff reduction will be addressed in line with the existing agreements between the employer and the union.

 “We have strongly urged management to keep any job losses to an absolute minimum.

Online Editors