Ulster Bank improves redundancy terms ahead of Ireland exit

The bank employs 2,800 people in Ireland

Ulster Bank said there will be no compulsory redundancies from the business this year. File picture

Ulster Bank staff are to vote on a revised redundancy package from the bank as it continues plans to depart the Irish banking market.

The lender provided an update on its phased withdrawal progress today saying it will now offer enhanced redundancy terms which will be the greater of five week's pay per year of service, including statutory redundancy or four weeks per year plus statutory redundancy.