Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Ulster Bank is to make 813 further redundancies as part of the bank’s closure process. The redundancies are to make over a 12-month period from May 2023. Employees at the bank had two-weeks to apply for a voluntary redundancy programme. Staff could also enter a period of redeployment where they have the option of looking for another role within the bank on either a short or longer term basis.
The bank had about 2,400 employees when the closure was announced.
Eurofound (2023), Ulster Bank, Closure in Ireland, factsheet number 201009, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201009.