Ulster Bank set to make 500 redundant

ULSTER Bank is widely expected to announce today that it wants to get rid of 500 or more of its staff.

For several weeks there has been speculation that the financial institution, owned by Royal Bank of Scotland, was planning to have a fresh redundancy drive. In 2009 it got rid of 1,000 staff in a similar cull.

Today’s anticipated announcement would tie in with RBS’s own announcement that it is cutting up to 4,000 investment banking jobs globally as part of an overhaul of that business.