Further Ulster Bank Restructuring Raises Prospect of Redundancies

16 May 2018

The Financial Services Union today expressed its frustration at additional restructuring plans announced to staff by Ulster Bank.  According to the Union today’s announcement could place approximately 50 jobs in jeopardy and further undermines morale among staff in Ulster Bank.

The Union established a telephone helpline today for members concerned about their future. 

The restructuring is aligned to upgrade in technology across the Ulster Bank network.  While no branches will close it is expected that following this upgrade the Bank will seek approximately 50 redundancies.

Commenting on the development FSU Senior Industrial Relations Officer, Gareth Murphy, said,

“Today, staff in Ulster Bank are confronted with another major change in their working lives that may also see up to 50 redundancies further down the line.  This is yet another phase of restructuring that follows on from last year’s closure of 20% of Ulster Bank branches in the Republic of Ireland.  This constant upheaval is undermining staff morale within the bank.

“We acknowledge that Ulster Bank has given commitments to the FSU that redundancies will only be sought after the technology upgrade programme, and associated measures, reduces the workload in branches.  However, even at present staffing levels, especially in the branch network, the situation is already critical and so we are calling on the Bank to reduce the number of redundancies it will seek.

“In the coming months FSU will be fighting hard to reduce the number of jobs in jeopardy.  We will also seek to ensure that any job losses are on a voluntary basis.  We will also be pressing the bank to engage with the Union on a technological change and jobs agreement.  We believe that retaining jobs in the bank has to be a priority and that staff need to be equipped and upskilled to thrive in the rapidly evolving financial services workplace.  Long-term thinking, not short-term ‘restructuring’ initiatives are needed to ensure that the Bank delivers for customers, staff and the communities they serve.”