Ulster Bank may eliminate nearly 1,000 jobs, following a full review of all operations by its owner Royal Bank of Scotland (RBS), as part of plans to reduce operational cost.
The non-core operations of Ulster Bank are likely to be severely impacted by the proposed job cuts, as it is the subject to major reorganisation, media sources reported.
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A report by Sunday Business Post was cited by Irish Examiner as saying that Ulster Bank may reduce 400 positions at its corporate restructuring division, while approximately 350 employees working in manage mortgage debt will lose their jobs.
Currently, Ulster Bank has a work force of 5,800 staff in Ireland. The bank has already implemented two major rounds of redundancies, involving 2,000 job cuts since 2009.
It is believed that Ulster Bank might reveal the redundancies later this month, when it publishes its 2013 financial results.
Under the leadership of its new chief executive Ross McEwan, Ulster Bank has been working on an internal business review, which is expected to include redundancies and branch closures.
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