Ulster lay-offs ‘may damage Ireland’s reputation’

THE 950 job cuts announced by Ulster Bank could have a major negative effect and damage Ireland’s reputation, according to a leading economist.

Writing in today’s Irish Examiner, Ray Kinsella says Ireland’s financial services sector is threatened by forces that could undermine its skill base.

It comes as groups representing workers prepare to tell the company they believe almost 1,000 job losses are not necessary, the company’s target of getting rid of the staff cannot be achieved and they will not accept any compulsory redundancies.