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
750 jobs Number of planned job losses
Announcement Date
26 January 2009
Employment effect (start)
Foreseen end date
Description
Ulster Bank, part of Royal Bank of Scotland, has announced that it is to cut 200 jobs in Northern Ireland and another 550 in the Republic of Ireland. According to the bank, the lay-offs will be achieved on a voluntary basis. The Ulster Bank has 145 branches in the Republic and 92 in Northern Ireland.
The redundancies are part of a move by Ulster Bank Group to merge its specialist mortgage and investment arm, First Active, with Ulster Bank.
Sources
26 January 2009: BBC Website
Citation
Eurofound (2009), Ulster Bank, Internal restructuring in European Union, factsheet number 69419, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69419.
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