The Royal Bank of Scotland (Ireland), and their retail division, Halifax, are radically restructuring their banking business over the next few months. Around 750 bank workers are losing their jobs in the republic as part of the changes.
The bank are also withdrawing entirely from retail banking, so that all customers of the Halifax will need to move their current accounts, savings accounts and credit cards to alternative banks by the end of May 2009. All branches of the Halifax will also close. Mortgage customers can maintain their home loan until it is paid off if they want, but no new loans will be offered.