Business

Bank planning job losses

ULSTER Bank plans to cut 110 jobs across Ireland it has been announced. The losses, announced two years ago by the bank, include six posts in Northern Ireland. It is understood the redundancies are a result of Ulster Bank outsourcing work on mortgage arrears in the Republic to Scotland. However, general secretary of the Irish Bank Officials association (IBOA) Larry Broderick said: "Outsourcing has not always delivered for Ulster Bank's customers. They will not easily forget the meltdown on the bank's outsourced It systems in the summer of 2012. IBOA is aware that RBS Group is conducting a major review of Ulster Bank's operations. So we have asked Ulster Bank management to defer any decision on the mortgage arrears unit until RBS completes its review."