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Ulster bankers avoid RBS job cuts

08/04/2009

Bankers in Northern Ireland have been told they will not be affected by further job cuts announced by Ulster Bank's parent company, the Royal Bank of Scotland (RBS).

RBS has now said up to 4,500 jobs in the UK will be lost during restructuring, which is designed to get the bank "back on its feet as soon as practicable" says the company's chief executive, Stephen Hester.

An Ulster Bank spokesperson reassured workers that their jobs are secure as "all anticipated Ulster Bank group manufacturing job losses in Ireland during 2009 are included in the 750 voluntary redundancies announced at the end of January".

The government has reaffirmed its commitment to sort out RBS - in which the taxpayer now has a 70 per cent stake.

"The financial sector would continue to be integral to Britain's future prosperity, but it must be reformed to reflect the changing global circumstances we face," commented a Downing Street spokesperson.

 

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