There was wide spread dismay yesterday following an announcement by Ulster Bank that it was to make almost 1, 000 staff members redundant.
The bank, which is owned by The Royal Bank of Scotland, is to make 350 staff in Northern Ireland redundant, the remainder will be from Republic of Ireland branches. There are three Ulster Bank branches in Derry, as yet it is unknown how many employees in Derry will lose their jobs.
SDLP Foyle MP Mark Durkan said of the announcement: “The importance of this announcement is that it is bank staff in the retail end of banking, not exceptionally well-paid and locally based, who are now being asked to pay the latest price for the follies and the excesses of their colleagues and seniors in other areas of the business.
“As well as the implications for staff and their families we have to consider the implications for customers in terms of quality and accessibility of service.”
Last year the bank ‘wrote off’ over £1 billion in bad loans.
Enterprise Minister, Arlene Foster, has said that the scale of redundancies; “is deeply disappointing and a huge shock to staff. Such a significant number of job losses is very worrying.”