Belfast Telegraph

Ulster Bank staff may face axe in RBS shake-up

By John Mulgrew

Ulster Bank could cut a number of bank jobs here as part of a shake-up by its parent company Royal Bank of Scotland (RBS).

RBS is slashing 550 jobs and replacing some face-to-face advisers with an automated system in a round of cost-cutting.

The high street lender said 220 staff would be shed from its investment advice team as part of a shake-up, which will see face-to-face advice only offered to customers investing £250,000 or more.

It is understood Ulster Bank will be hit by the job cuts, but fewer than 10 posts could be affected.

The bank said it will also scale back its protection business to a telephone-only service, triggering the loss of 250 jobs from its protection products team.

The overhaul comes after changes to financial services and pension regulation hit demand for investment advice, while its protection team suffered from a "gradual decline" in customers.

Around 80 administration roles will also be lost.

Belfast Telegraph

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