Some 53 of the positions are based in the North, though the affected employees are staff of Ulster Bank Ireland Dac in the Republic, which is separate from Ulster Bank Northern Ireland. Financial crisisThe bank, part of the UK-based NatWest Group, formerly Royal Bank of Scotland, moved in early 2009 to become the first retail bank in the State to cut jobs and branches at the start of the financial crisis. Bank of Ireland announced last month that it would cut more than 1,400 jobs in the coming years to rein in costs and lower its staff base to 9,000. Ulster Bank has reduced its number of branches in the Republic from 190 before the crisis, including now-defunct First Active locations, to 88. The bank has no current plans to cut further outlets, according to sources.

Source: The Irish Times September 10, 2020 14:03 UTC