CBI respond to Ulster Bank job cuts
Job losses hit Northern Ireland financial sector
Responding to the news this morning that the Ulster Bank will be cutting 350 jobs from its Northern Ireland’s operations, CBI Northern Ireland Director, Nigel Smyth, said: "This is disappointing news and a major blow to the financial services sector, as well as the individuals who will be impacted. It clearly reflects the ongoing difficulties and challenges facing the banking sector and the broader economy.
"The jobs losses highlight the headwinds the Executive faces, and reinforces the importance of urgency within the Executive’s decision making processes. It remains vital that the fundamental conditions for growth are put in place to help maintain jobs and support job creation.
"The current public expenditure monitoring round provides an opportunity to press ahead with more investment in capital programmes which can provide an important stimulus to the construction sector – including tackling the large backlog of road maintenance work."