Ulster Bank cuts another 250 jobs

ULSTER Bank is to slash a further 250 jobs from its Irish operations, bringing to 1,000 the number of jobs being axed by the group over the next 12 months.

Earlier in the year the bank said it was looking for 750 voluntary redundancies linked to the closure of its First Active subsidiary.

That process is due to be completed by the year end, with the rest to follow after discussions with the banking union, IBOA. The latest job announcement came as Ulster Bank reported first half losses of £8m (€9.3m) compared with profits of £172m (€200m) in the first half of 2008.