Ulster Bank is seeking 175 voluntary redundancies from its Irish workforce, with the cuts aimed at its manager grade or above.

Ulster Bank said the cuts will have no impact on its branch structure or services, adding that no branch managers will be affected by the redundancy scheme.

The bank has a workforce of 2,973 on the island of Ireland, of which 658 are classified as manager grade or above. 

Ulster Bank said the voluntary redundancy scheme will open today and close on January 8.

The bank said the move reflects its programme to manage costs and improve its cost income ratio in a low interest rate environment building on its ongoing programme of smaller restructures around the business.

"Our strategy is to serve our customers digital-first, supported by our colleagues on the frontline", Ulster Bank's chief executive Jane Howard said. 

"As we simplify our processes and improve our service, the management structure we've built is unnecessarily complex, therefore today we opened a voluntary redundancy scheme for our manager colleagues," Ms Howard said. 

"This will reduce our population of managers by about 175, removing layers and bring us all closer to our customers to improve our service," the CEO added.