This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/uk-northern-ireland-16514727

The article has changed 7 times. There is an RSS feed of changes available.

Version 3 Version 4
Ulster Bank could lose 15% of workforce in north and south Ulster Bank says 950 jobs to go on island of Ireland
(about 1 hour later)
Staff at Ulster Bank in Northern Ireland and the Republic are expected to be told on Thursday of the extent of the latest round of job losses. The Ulster Bank is planning to cut its workforce in Northern Ireland and the Republic by 950 staff.
It is estimated that between 600 and 900 jobs will go in total. 350 jobs will go in Northern Ireland while the remaining 600 will be lost in the Irish Republic. The figure represents around 15% of the company's 6,000 staff across Ireland.
That is between 10 and 15% of the 6,000 people working for the bank on the island of Ireland. The announcement is the latest round of job losses at the bank which is owned by Royal Bank of Scotland.
The Ulster Bank is yet to comment but it is understood management met with the Irish Bank Officials Association on Wednesday. RBS is cutting around 3,500 jobs over the next three years.
The bank's chief executive Jim Brown was in Belfast on Wednesday and met the first and deputy first ministers. Of the 6,000 Ulster Bank staff, over 2,000 are employed in Northern Ireland.
Of the 6,000 Ulster Bank staff, 2,000 are employed in Northern Ireland. Staff at the bank were told the news on Thursday morning and given details of the terms of the lay-offs.
In a statement the bank said the cuts were necessary following a "review of its operating model".
"As local and global economies continue to deteriorate, these actions are being taken as part of the bank's overall business strategy to ensure the organisation is well placed to compete effectively in the market and continues to serve the needs of its 1.9m customers across the island of Ireland through its extensive branch and business centre network," it said.
Impact
Larry Broderick, from the Finance Union, the Irish Bank Officials' Association (IBOA), said it was a "very dark day for staff and customers" of Ulster Bank.Larry Broderick, from the Finance Union, the Irish Bank Officials' Association (IBOA), said it was a "very dark day for staff and customers" of Ulster Bank.
He said the bank would be briefing staff on Thursday morning and an official announcement was expected by 10:00 GMT. "It will impact on retail as well as head offices," he said.
"I can confirm that it will be a substantial number," he said.
Shock
"The speculation that is in the media at the moment is not far off the mark.
"It will impact on retail as well as head offices.
"We're actually shocked at this announcement and the scale of it.""We're actually shocked at this announcement and the scale of it."
Mr Broderick said the IBOA would be lobbying for discussions.Mr Broderick said the IBOA would be lobbying for discussions.
"We will be seeking talks between the Irish PM, the assembly and the UK finance minister and the British prime minister to review this in the context of the need to have a good retail structure like Ulster Bank remain, particularly in Northern Ireland," he added."We will be seeking talks between the Irish PM, the assembly and the UK finance minister and the British prime minister to review this in the context of the need to have a good retail structure like Ulster Bank remain, particularly in Northern Ireland," he added.
A spokesperson for Ulster Bank said the bank did not comment on speculation.
"Announcements pertaining to jobs are made to staff directly," they said.
Ulster Bank, the third-largest bank in Ireland, is owned by Royal Bank of Scotland (RBS).Ulster Bank, the third-largest bank in Ireland, is owned by Royal Bank of Scotland (RBS).
On Thursday, RBS announced it would be cutting around 3,500 jobs over the next three years.