Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Ulster Bank has annonuced 600 redundancies from its operations in the Republic of Ireland with a further 350 redundancies coming from its Northern Irish staff.
The bank said the job cuts will be voluntary, though it may move to impose compulsory redundancies if there is insufficient take-up of the scheme. The redundancy programme is expected to be completed by the end of 2012.
"As local and global economies continue to deteriorate, these actions are being taken as part of the bank's overall business strategy to ensure the organisation is well placed to compete effectively in the market," Ulster Bank said in a statement.
Eurofound (2012), Ulster Bank, Internal restructuring in Ireland, factsheet number 72983, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72983.
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