Bank of Ireland is to cut 270 jobs in Belfast and London as part of a restructuring plan agreed with the EU earlier this year.
BoI said the redundancies were due to a decision to transfer business support activities to Dublin and Bristol. The bank stressed that the changes would not impact on its customers.
The planned changes, which are subject to consultation with staff, form part of the Bank’s restructuring plan, which was given EU approval in July.
Bank of Ireland is disposing of six assets, including New Ireland assurance, Bank of Ireland Asset Management and ICS Building Society, at the behest of the European Commission as part of its cost-cutting plan.
"Bank of Ireland is strongly committed to engagement and consultation with staff on an individual basis and through their representatives during this process. Staff affected by the proposals have been informed and a 90-day consultation period has begun," it said in a statement
BoI reaffirmed its commitment to the Northern Ireland market and said it intends to open a new branch in Belfast shortly.
Bank of Ireland had a total of 14,636 employees at the end of December, according to its annual report. About 2,200 people have left the lender since March 2008 - mostly as a result of the lender not replacing employees as they left the group.
The Irish Bank Officials’ Association (IBOA) said today's announcement was "disappointing, though not unexpected."
In July, the company announced it plans on cutting 750 jobs over the next two years in Ireland, Northern Ireland and Britain.
Bank of Ireland posted pre-tax losses of more than €1.246 billion in the six months to June, up from €668 million in the same period last year.
