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Dublin - Royal Bank of Scotland will cut 950 jobs at troubled Irish unit Ulster Bank in a second round of layoffs that comes on top of the axing of 3 500 investment bank jobs at the majority UK state-owned lender.
Dublin-based Ulster, which cut 1 000 jobs in 2009, said in a statement on Thursday that it proposes cutting 600 jobs in the Republic of Ireland and 350 in Northern Ireland, and that the actions were being taken as part of the bank’s overall business strategy.
Local banks and foreign lenders servicing the domestic Irish economy have shed some 7 000 jobs since 2008 when the country’s financial crisis hit, with Allied Irish Bank planning a further 2 000 cuts.
Dublin-based Ulster, which cut 1 000 jobs in 2009, said in a statement on Thursday that it proposes cutting 600 jobs in the Republic of Ireland and 350 in Northern Ireland, and that the actions were being taken as part of the bank’s overall business strategy.
Local banks and foreign lenders servicing the domestic Irish economy have shed some 7 000 jobs since 2008 when the country’s financial crisis hit, with Allied Irish Bank planning a further 2 000 cuts.
