Ulster Bank has announced a new redundancy programme which will leave up to 800 employees at risk of losing their jobs, as part of the bank's overall withdrawal process from the Irish market.
The staff have been invited to apply for voluntary redundancy between today and June 7th, or enter a period of redeployment where they can look for another role over the short or longer term.
Those leaving the bank will depart the lender this year and next.
"This programme will see colleagues leave the Bank as their work ceases or significantly diminishes over the course of 2023 and 2024, and we expect there will be no further Bank-wide redundancy programmes this year," said Ulster Bank CEO, Jane Howard.
"Each redundancy programme announcement is a significant moment for our bank, with a personal impact for our colleagues and I reiterate my ongoing and sincere gratitude to colleagues for the dedication they have shown and for the important work and support that they continue to provide to our customers and each other."
Ulster Bank had previously announced 800 redundancies with those staff currently leaving the bank.
Gareth Murphy, Head of Industrial Relations and Campaigns with the FSU, said that today is a sad and difficult day for all Ulster Bank staff and their families who have given so much to the Bank and its customers over many years.
"These are very skilled, professional staff, who know and understand the financial needs of business and people. It is important their knowledge and skillsets are not lost to the wider financial services sector," he said.
He also noted that there are shortages of staff throughout all the remaining retail banks here - AIB, Bank of Ireland and Permanent TSB.
"There can be no excuses offered or accepted for any retail bank to say they are having problems recruiting trained staff. This would be an opportune time for banks to seek to recruit and hire the skilled staff currently exiting Ulster Bank," Mr Murphy stated.
