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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
195 jobs Number of planned job losses
Announcement Date
7 August 2009
Employment effect (start)
Foreseen end date
Description
Ulster Bank has announced a further 250 voluntary redundancies, after reporting further losses in the fist half of 2009. Previously, the bank announced 750 redundancies in February 2009 following the closure of its First Active operations. Ulster Bank is owned by Royal Bank of Scotland, which has reported serious losses recently. The 250 redundancies cover the island of Ireland, and although there is no breakdown as to the exact number of jobs that will be lost in the Republic and Northern Ireland respectively, the majority of redundancies will affect staff in the bank's Republic operations. It is understood that approximately 55 of the posts will be axed in Northern Ireland, taking the total to 255, while 195 jobs will be shed in the Republic taking the total redundancies there to 745.
Eurofound (2009), Ulster Bank, Internal restructuring in Ireland, factsheet number 69381, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69381.
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