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| Version 1 | Version 2 |
|---|---|
| Ulster Bank to lay-off 750 staff | Ulster Bank to lay-off 750 staff |
| (29 minutes later) | |
| More that 700 jobs are to be lost at the Ulster Bank in Northern Ireland and the Republic of Ireland as part of a cost-cutting plan, the bank has said. | More that 700 jobs are to be lost at the Ulster Bank in Northern Ireland and the Republic of Ireland as part of a cost-cutting plan, the bank has said. |
| The lay-offs will be rolled out on a voluntary basis, according to the group. | The lay-offs will be rolled out on a voluntary basis, according to the group. |
| The cost-cutting plan will lead to 550 job losses in the Republic, with a further 200 Northern Ireland lay-offs. | The cost-cutting plan will lead to 550 job losses in the Republic, with a further 200 Northern Ireland lay-offs. |
| Ulster Bank said it will shut its mortgage and investment arm First Active brand as part of the scheme. | |
| The group, part of Royal Bank of Scotland, said that it had to "adapt to prevailing market conditions, while strengthening the organisation and its all island reach". | The group, part of Royal Bank of Scotland, said that it had to "adapt to prevailing market conditions, while strengthening the organisation and its all island reach". |
| Debt | Debt |
| The plan includes making the Ulster Bank Group a single brand in the Republic, with the merger of its specialist mortgage and investment arm, First Active into the main Ulster Bank. | The plan includes making the Ulster Bank Group a single brand in the Republic, with the merger of its specialist mortgage and investment arm, First Active into the main Ulster Bank. |
| The bank said it would be holding meetings with employees and employee representatives to discuss details of the severance package. | The bank said it would be holding meetings with employees and employee representatives to discuss details of the severance package. |
| The Ulster Bank, which has more than 1.8m customers, has 145 branches in the Republic and 92 in Northern Ireland. | The Ulster Bank, which has more than 1.8m customers, has 145 branches in the Republic and 92 in Northern Ireland. |
| The bank, founded in Belfast in 1836, said its plans in Northern Ireland included measures to support customers, experiencing financial difficulties including. | The bank, founded in Belfast in 1836, said its plans in Northern Ireland included measures to support customers, experiencing financial difficulties including. |
| The plan includes funding for the provision of debt advice, staff secondment for debt agency work and a six month postponement on house repossession after a customer first goes into arrears. | The plan includes funding for the provision of debt advice, staff secondment for debt agency work and a six month postponement on house repossession after a customer first goes into arrears. |