Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

266 jobs
Number of planned job losses
Job loss
Announcement Date
10 September 2020
Employment effect (start)
Foreseen end date


Ulster Bank announced a redundancy programme to cut 213 roles in the Republic of Ireland. This is due to low earnings on interest rates and bad loans, some of which are a result of COVID-19. The redundancies will be implemented on a voluntary basis. 

Meanwhile, reports have suggested that the UK parent company of Ulster Bank - NatWest - is to consider completely winding down the bank in the Republic of Ireland. The Financial Services Union (FSU) commented that the decision was unexpected on the basis of previous talks and it has launched a campaign to save the bank.



Eurofound (2020), Ulster Bank, Internal restructuring in Ireland, factsheet number 102177, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102177.