Ulster Bank, the Irish subsidiary of Royal Bank of Scotland (RBS) is to cut 1,800 jobs and close around 40 branches in a plan to return the group to profit by 2016.
Over the next three years, the bank will reduce its workforce to between 4,000 and 4,500, compared to 5,800 in 2012.
Its branch network will shrink from 214, to between 175 and 185 by the end of 2014. RBS has predicted the operation will break even by this time.
A spokes person from the bank told RBI: "We believe that, taking account the 950 reductions announced in early 2012, the remaining decrease in headcount should be met through natural attrition over the remaining course of the strategic plan. We continue to keep our costs under review."
At the beginning of 2013, Ulster Bank announced it had made a loss of more than £1bn in 2012.
An additional 950 job cuts at the bank were announced in January 2012. In January 2013, 22 branches and sub-offices were revealed to be closing.